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South Africa’s biggest bank delivers record earnings

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Standard Bank Group, South Africa’s biggest bank when measuring capital 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.

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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