Standard Bank says focus on rest of Africa is paying off
But CEO Sim Tshabalala says he sees better times ahead for SA, despite dim prospects for labour market reform and better education
Standard Bank Group said on Thursday that a better contribution from banking in the rest of Africa helped the lender grow profits in the first half of 2019, even as loan write-offs climbed and its joint venture with ICBC was hobbled by a client going bankrupt.
“Standard Bank Group’s African-focused strategy has delivered continued headline earnings growth, driven by the strong underlying momentum in our core operations,” the continent’s biggest lender said...
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