A general view of a Standard Bank branch in Sandton. AFP/Emmanuel Croset
JOHANNESBURG - Standard Bank posted record headline earnings for the six months to June, fuelled by robust revenue growth, reduced credit impairments, and tight cost control.
Headline earnings jumped 10 percent to R26.1 billion, with a higher return on equity.
Revenue growth outpaced costs, boosting efficiency. Credit losses fell as economic conditions stayed supportive.
South Africa delivered just over half of group earnings, while Africa Regions contributed 40 percent, highlighting the bank’s strong continental presence.
Standard Bank says it is well-positioned to benefit from Africa’s growing economic activity and has kept its full-year guidance.
The group raised its interim dividend by 10 percent and has mobilised over R328-billion in sustainable finance since 2022.