BUSINESS DAY TV: ‘Prudence has not been at the expense of profits’
Standard Bank CEO Sim Tshabalala discusses the group’s 2016 performance, a chunky dividend and accusations of rigging in the forex market
Sim Tshabalala is the CEO of Standard Bank. BUSINESS DAY TV: Standard Bank has reported a 4% rise in headline earnings per share (HEPS) for 2016 in what it describes as a very tumultuous year. Joining me now to chat about the results is CEO Sim Tshabalala. Sim ... so the initial market reaction has been pretty positive and I’m trying to work out whether it’s the 16% rise in the dividend or the fact that you have grown earnings in an environment like this, also managing to reduce your credit impairments slightly. How do you read it? SIM TSHABALALA: The answer is embedded in your question, the banking operations performed very well. They had great revenue growth, costs well contained and the ROE (return on equity) at above 16% was very good. And investors can see the robustness of the revenues and they can see that the cost of credit is well managed and that the quality of our book is pretty good. And they can see that we had a challenge in our group as a consequence of the performanc...
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