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PHANTOM SHARES: The Finance Ghost: Strong run by banks, Blue Label Telecoms’ complex plans to refinance Cell CLast week Standard Bank released results for the year to December 2021 that reflected a solid rebound in performance, with an increase in return on equity from 8.9% in 2020 to 13.5% in 2021. Based on the latest net asset value per share of R124.93 and a price of R173 per share at the time of writing, Standard Bank is trading at a substantial premium to net asset value of 38.5%.
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