Standard Bank felt the wild swings in African currencies
Wild swings in African currencies offset by growth on the continent
14 March 2025 - 17:56
A year ago Standard Bank’s extensive African operations were shooting the lights out for the group, whose headline earnings surged 27% for financial 2023 with earnings from the rest of Africa up 49% and markets hailing the success of the group’s three decade long strategic bet on the continent.
This time around the group felt the effect of wild swings in African currencies, whose volatility reduced the group’s 2024 headline earnings growth in rand terms to just 4% for the year to end-December — just as the banking group had warned a year ago...
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