ank has updated its earnings guidance and says it expects headline earnings for its first half of the 2022 financial year to rise about 25%.
It previously said in September that it expected its earnings would rise by between 20% and 22.7% The company that has a dual listing on the London Stock Exchange and JSE is mandated by both to update the market on earnings changes.The group spun off its investment management business, now called NinetyOne, in March 2020.
In September, it said that simplification and renewed focus had led to increased earnings at the bank. The Wealth and Investment business grew funds under management 9.9% to £63.8bn to end-August, supported by net inflows of £1.4bn, favourable market movements and investment performance. “This recovery in performance underscores the resilience of our client franchises, supported by improved economic conditions,” group CEO Fani Titi said in September. With Karl Gernetzky
Watch the UK parliamentary scandal closely.