South Africa’s biggest bank delivers record earnings

said Friday that it delivered record headline earnings of R15.3 billion for the six months to 30 June 2022, up 33% from the prior period, spurred by franchise growth.Standard Bank said its South African banking business recorded a strong rebound. Headline earnings increased by 30% and ROE improved to 14.2%. Revenue grew by double digits, boosted by a strong trading performance and an ongoing recovery in activity-related fees, up 41% and 10% respectively.

Half of Standard Bank’s business and commercial clients are now accessing the group’s digital channels. Consumer High Net Worth has seen an 18% growth in platform customers and a 25% increase in digital transactions to over 240 million, it said.

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Standard Bank reports record half-year headline earningsAfrica’s largest bank by assets, SBGroup (SBG), on Friday reported record headline earnings of R15.3 billion for the six months to 30 June 2022 – a surge of 33% on the comparative 2021 half-year. Moneyweb BusinessNews
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