Standard Bank confident as backdrop darkens
Higher food, fuel and fertiliser prices are already filtering through to Sub-Saharan Africa, lender says
14 June 2022 - 09:38
UPDATED 14 June 2022 - 23:15
Standard Bank, Africa’s largest lender by assets, has signalled profit growth of at least a fifth for its half-year to end-June, but warned that the global environment and outlook for local interest rates has deteriorated.
By the end of May, the Reserve Bank had delivered on the 100 basis points (bps) of interest rate increases Standard Bank had expected for 2022. The lender has upwardly revised that forecast to 175bps of hikes this year...
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