Standard Bank said its attributable earnings rose by almost a third in the first quarter, which was faster than it expected though that profit rise was influenced by the transition to new global financial reporting standards.
Africa’s largest bank by assets said it delivered attributable earnings of R10.2bn in the first three months of 2023 when measured on an IFRS17 basis, which are the newest International Financial Reporting Standards. That compares with attributable earnings of R7.4bn in the first quarter of 2022, though that figure was prepared on an IFRS4 basis which included a R517m negative Treasury share adjustment...
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