STANDARD BANK says its South African business rebounded strongly in the six months ended June 2021, with earnings almost triple that of the first half of 2020.
Client demand and activity improved, disbursements and fees recovered, and credit charges declined from very elevated levels in 1H20, the lender said.
Headline earnings improved by 52% toR11.5 billion, with headline earnings per share (HEPS) up by the same margin to 721.4 cents per share.
Standard Bank said its Africa regions’ contribution to 1H21 group headline earnings was 35%. The top six contributors to Africa Regions’ headline earnings remained Angola, Ghana, Kenya, Mozambique, Nigeria and Uganda.
Return on equity (ROE) was 12.9% (1H20: 8.5%), and taking into account the momentum in the underlying business and the group’s strong capital position, the SBG Board has declared an interim dividend of 360 cents per share, representing a 50% dividend payout ratio.
The number of employees
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
