Despite tough economic conditions and a surge in credit impairment charges, the lender rallies with a 44% interim profit leap
Standard Bank Group, Africa’s largest lender by assets, reported a surge in interim profit despite a jump in bad loans.
The company, valued at about R324bn on the JSE, said in its results for the six months to end-June that profit rose 44.1% year on year to R22.1bn in a tough economic environment for businesses and consumers alike, as inflation and interest rates remained high and global markets largely muted.... There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an
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