Standard Bank grows earnings 27% to beat rivals
The group says higher average interest rates across all regions supported strong expansion in its net interest margin
14 March 2024 - 09:40
Standard Bank has come in well ahead of competitors with a 27% increase in headline earnings to R42.9bn for the year to end-December, helped by 49% jump in earnings from its Africa regions, which now account for more than half the group’s banking profits.
Earnings from its SA operations grew by a more pedestrian 3% as higher bad debt provisions ate into pre-provision profits, which were up 9%...
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