A good week
Standard Bank’s expected 40%-plus jump in first-half headline earnings might end up being the lowest among the big four banks, and more to do with extreme caution in setting money aside last year than with any great growth plans on its part, but at least it means CEO Sim Tshabalala’s worst pandemic fears were not realised. The R20bn that the bank took as provision against a wave of bad debts will almost certainly flow back to the bottom line, which means shareholders who held fast will have their faith rewarded...
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