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Standard Bank reports 8% increase in first-quarter earnings

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The group says ‘strong growth’ in the rest of Africa helped to lift earnings attributable to shareholders

Standard Bank Group says earnings attributable to shareholders were 8% higher in the three months to end-March compared to a year before thanks in part to “strong growth” in the rest of Africa.

“In contrast, the Africa regions businesses, outside of SA, recorded strong growth. Net interest income growth was supported by year-on-year loan growth.”However, operating costs rose because of branch closures, while credit impairment charges were higher.

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