You can also listen to this podcast on iono.fm here. ADVERTISEMENT CONTINUE READING BELOW JIMMY MOYAHA: One of our big banks in South Africa reported its results for the financial year ended December 2023. I’m referring to Standard Bank, of course, and I’m joined on the line by the company’s group CEO to take a look at these results and just reflect on the performance.
So South Africa R16.8 billion, Africa regions sort of R18.2 billion, with Africa regions now bigger than South Africa in terms of earnings, and in total making up over 40% of our group.JIMMY MOYAHA: Sim, looking at that, let’s stick with Africa for a second. concerns around regions like Nigeria and what’s happened with the Nigerian naira.
But importantly, in the last couple of weeks you’ve seen the maturation of the monetary policy approach in the country, with interest rates being increased by 400 basis points. SIM TSHABALALA: Jimmy, maybe just to start by what one is seeing in the scenario planning for the group. You are right. In the financial results we set out for investors how we thought about the modelling that we do for providing for bad debts, essentially. And for that purpose we think about a base scenario, a bear scenario and a bull scenario.
Quickly then, when you think about the bear scenario, South Africa goes to GDP of sort of -0.5%. The bull scenario, however, is GDP of 2%.Now there’s a lot obviously that goes into this. You could also think about what happens globally. You’ve got to think about what happens with geopolitics.
You guys have been very prudent in how you’ve managed that up to now. I imagine going forward that that won’t change anytime soon.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Kilde: ITWeb - 🏆 45. / 51 Les mer »
Kilde: BusinessTechSA - 🏆 24. / 61 Les mer »
Kilde: Fin24 - 🏆 21. / 63 Les mer »