Standard Bank posts R21.9-billion profit amid bad loan spike.
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GUEST - Sim Tshabalala - Standard Group CEO
Standard Bank, SA's largest lender by assets, said on Thursday that profits rose more than a third in its half-year to end-June after it got a boost from higher interest rates and its African operations. Headline earnings rose 35% to R21.2 billion in the period, the group said, with this profit measure in its rest-of-Africa personal banking operations more than doubling to R605 million, helped by margin expansion due to higher interest rates and a double-digit increase in the active client base.
Standard Bank, SA's largest lender by assets, said on Thursday that profits rose more than a third in its half-year to end-June after it got a boost from higher interest rates and its African operations. Headline earnings rose 35% to R21.2 billion in the period, the group said, with this profit measure in its rest-of-Africa personal banking operations more than doubling to R605 million, helped by margin expansion due to higher interest rates and a double-digit increase in the active client base.
