Sim Tshabalala, Standard Bank Group CEO, says the bank is optimistic about SA's economic prospects.
Standard Bank Group has announced that its global headline earnings for the year to end-December 2017 increased by 14 percent over the previous year, to R26.3 billion. Meanwhile, its total assets stand at just over R2 trillion, up from R1.95 trillion at the end of the 2016 financial year.
According to Sim Tshabalala, Standard Bank Group CEO, the bank is optimistic about economic prospects in South Africa for the coming year.
The group said in a statement:
“Although less marked than in the first half of the year, currency movements continued to adversely impact the group's reported results, reducing group and banking headline earnings growth by four percentage points year on year. On a constant currency basis, group headline earnings grew by 18%.”
Other highlights include:
- Total income for the financial year: R127.5 billion.
- Full-year dividends per share: R9.10 (17 percent more than the previous year's R7.20)
- Headline earnings per share increased: R16.40 (by 14 percent)
