Yet ICBC has limited influence with Standard Bank, with only a couple of directors on its board.
Goolam Ballim, chief economist of Standard Bank Group, warned that the power cuts would reduce South Africa's economic growth.
Standard Bank noted the net-long position for silver dropped only slightly, likely affected by the waning confidence in gold.
FORBES: Funds Shed Gold Positions, Bolster PGM Futures, Options - CFTC
Many of the rural branches of South Africa's Standard Bank rely on satellite transmission, diesel generators and solar power.
South Africa urgently needs more skilled workers, perhaps as many as 500, 000, says Iraj Abedian, chief economist with Standard Bank.
The move in the legacy report to add to both sides of the ledger gave analysts at Standard Bank pause.
FORBES: FOCUS: Speculators Start Buying Precious Metals Futures, Options Again -CFTC
Other retail banks, such as Standard Bank, target the low-income population by offering accounts with limited transactional features at reduced charges.
Analysts at Standard Bank said while speculators added to their bullish positions, the momentum behind the gains are beginning to slow.
FORBES: Funds' Bullish Positions In U.S. Precious Metals Futures, Options Continue To Grow -- CFTC
So Johannesburg-based Standard Bank offers AccessAccount, which features benefits of a traditional banking account without having to visit a branch.
FORBES: To Boldly Bank Where No One Has Banked Before -- With Mobile
Having bought a local bank, improved service and invested in more branches, Standard Bank now serves almost half the Ugandan market.
Leading banks like Standard Bank and BBVA Bancomer have successfully leveraged this tool to expand their lending capacities to the missing middle.
China's 2010 gold production is expected at about 350 metric tons, according to Standard Bank head of commodity strategy Walter de Wet.
The company has entered the Russian market in collaboration with Russian Standard Bank and will start issuing Discover cards in the country.
It bought stakes, often with borrowed money, in some of the country's biggest firms, including Standard Bank, Lonmin, and telecom MTN Group.
Analysts at Standard Bank said speculators likely sold both platinum and palladium because of disappointment surrounding the delay by Amplats regarding mine closures.
FORBES: FOCUS: Speculators Cut Most Bullish Precious Metals Futures, Options Positioning -- CFTC
For example, South Africa's Standard Bank, which operates in 18 African countries, packages local government bonds into instruments it sells to foreign investors.
For Standard Bank the merits of the deal are clear: more capital, and kudos, to build a bigger presence in Africa and elsewhere.
Not to be left out, Liberty Life, the third-biggest life assurer, is forging a close alliance with Standard Bank, Africa's largest banking group.
ECONOMIST: Demutualisation: All change in South Africa | The
But perhaps the most notable firm outside the BRIC group of countries is Standard Bank of South Africa, run by Jacko Maree since 1999.
But more than 80 percent of them have access to a mobile device, according to Audrey Mothupi, head of Inclusive Banking at Standard Bank.
FORBES: To Boldly Bank Where No One Has Banked Before -- With Mobile
Analysts at Standard Bank (SA) note that silver stockpiles remain high (especially in China) and that demand from the industrial sector for the white metal is tepid at best.
Standard Bank said the sharp drop in the net-long position was equal to a 19.2% week-over-week drop, which they said made silver the worst performer among the precious metals.
FORBES: FOCUS: Speculators' Net-Long Position In Gold Rebounds Temporarily - CFTC
Industrial and Commercial Bank of China has bought 20% of Standard Bank, a South African lender and the continent's biggest bank by assets, and now offers renminbi accounts to expatriate traders.
South Africa's Standard Bank now has branches across Africa.
Meanwhile, February exports were substantially higher at 17, 161 kilograms, of which 16, 017 headed to the U.K. Commerzbank and Standard Bank both reported that Swiss exports were the highest in more than four years.
FORBES: FOCUS: Swiss Feb. Palladium Exports Most In 4 Years; Some Describe Trade Data As Bullish
Standard Bank has 30 bankers in Beijing now, as well as a main board director in an office close to ICBC's, who help clients of the Chinese bank interested in expanding in Africa.
Analysts at Standard Bank said while funds did not add much in the way of gross longs, what was encouraging was the reduction in gross shorts, which was the first time that occurred in four weeks.
FORBES: FOCUS: Speculators Start Buying Precious Metals Futures, Options Again -CFTC
This money went into accounts in Saudi Pak Bank, Standard Chartered Bank and Habib Bank, Ltd.
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