Africa’s biggest bank by assets, Standard Bank, increased normalised headline earnings per share by 20%, driven by strong growth in corporate and retail lending, the group said on Wednesday.
South African-based Standard Bank said normalised headline EPS for the year to end-December increased to 796,4 cents per share, at the top end of the company’s February 20 forecast of 18-20 percent.
The banking group said it was confident of meeting financial targets in the current year.
The banking group — one of the country’s ”big four” — said its diverse spread of businesses were buoyed by a widely favourable operating environment and that, measured against a high base, its earnings growth target of 10% above CPIX inflation was exceeded by a substantial margin. – Reuters, I-Net Bridge