David Munro power-lifts Liberty
Few people are expecting any fireworks from the midyear financial results of the big four banks — Standard Bank, Nedbank, Absa and FirstRand. Growth in revenue is likely to be minimal.
One of the few pockets of growth is likely to be Standard Bank’s life insurance subsidiary Liberty Holdings, which gets the ball rolling on August 1. In a trading update, Liberty has already flagged a 45%-55% increase in its headline EPS.