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Standard Bank’s earnings jump

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Africa’s largest lender by assets says higher client transactional and trade activity and market volatility boosted earnings

Standard Bank reported a 42% rise in earnings during the nine months to end-September, thanks to higher client transactional and trade activity and market volatility.

Africa’s largest lender by assets, valued at R255bn on the JSE, said on Wednesday in an update that forms part of information it provides one of its major shareholders, the Industrial & Commercial Bank of China , that it benefited from higher average loan and advance balances while higher average interest rates supported strong double-digit net interest income growth...

 

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