Five percent profit increase for Standard Bank
The Bank's first-half profit is up five percent, thanks to its businesses outside of South Africa.
Announcing its results for the first half of the year, Standard Bank said that its headline EPS came in at 794 cents for the six months ending June, compared with 756 cents a year earlier. Non-interest revenue, or income from transaction fees, rose 8 percent – to R22 billion – while net interest income rose 1.3 percent – to R29.1 billion.
Standard Bank has fared better than several other banks, largely due to its extensive operations in Africa, outside South Africa.
Pictured: Standard Bank Group FD, Arno Daehnke