Standard Bank joint CEO Sim Tshabalala. Picture: FREDDY MAVUNDA
Standard Bank released its annual results on Thursday posting a 7% rise in headline earnings. The group's rest of Africa operations led gains while SA lagged, with a weaker than expected economy and higher taxes weighing on confidence and demand for credit. The company's ICBC joint venture recorded a loss of nearly $15m and will need a capital injection of just over R1bn.
Standard Bank CEO Sim Tshabalala spoke to Business Day TV about the company's full-year earnings and what they suggested for its growth trajectory.
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