Standard Bank CEO Sim Tshabalala says the bank has made good strategic and financial progress towards its 2025 commitments. One of its financial targets is revenue growth of 7% to 9% a year, with revenue from new business models growing more quickly than those from insurance, banking and investment.
Preprovision operating profit, driven by strong revenue growth, grew by 20%. Net fees grew 10%, supported by a larger client base and increased activity.eadline earnings increased by 30% and ROE improved to 14.2%. Revenue saw double digit growth, boosted by a strong trading performance and an ongoing recovery in activity-related fees . Customer numbers grew by 8%, moving to 10.5 million.
About 50% of Standard Bank’s business and commercial clients are now using the bank’s digital channels. The high-net-worth consumer category has seen an 18% growth in platform customers and a 25% increase in digital transactions to more than 240 million.
Still not my favourite. Their work ethics, policies and culture sucks.
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