SA's biggest lender by assets has declared an interim dividend of R6.90 per share as its businesses outside South Africa contribute 44% to the group’s headline earnings – CEO Sim Tshabalala.
You can also listen to this podcast on iono.fm here. This interview was originally aired on RSG Geldsake . The Afrikaans introduction has been translated in this transcript.
So how will that affect your profit – that of Standard Bank, but also the other lenders in South Africa? SIM TSHABALALA: Let’s think about it from a demand and a client perspective. It will make clients’ ability to meet their obligations easier because inflation will be less. Debt service ratios to income will improve. That’s on the one hand.
Sim, having said that, are you seeing some of your clients under pressure at the moment? SIM TSHABALALA: Absolutely. That is undoubtedly the case. So again at a high level, very wealthy customers – a proportion of them are moving into sort of the middle-income category. Among the middle-income category of our customers we are seeing a number of our customers moving into low income, and moving into the support that they get from social security. So there’s no question about that.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa's Standard Bank posts 34% jump in interim profitAfrica's biggest lender by assets Standard Bank said on Thursday its interim profit jumped by more than a third as high interest rates helped offset rising bad loans.
Read more »
South Africa’s new payment system launches on Capitec and Discovery BankCapitec and Discovery Bank are the latest banks to adopt South Africa’s new PayShap payments system – this is how their fees stack up to the rest.
Read more »
BRICS bank raises R1.5 billion in first South Africa bond auctionThe New Development Bank, a financial institution created by the BRICS bloc of emerging markets, raised R1.5 billion at its first-ever South African bond auction.
Read more »
Boston IT Solutions South Africa partners with Liquid C2 to deploy Azure Stack infrastructure across AfricaBoston IT Solutions South Africa, a business of Boston Limited (Boston) is pleased to announce a partnership with Liquid C2, a business of Liquid Intelligent Technologies, to provide them with a turnkey solution to deploy hybrid cloud infrastructure on the African continent.
Read more »
Boston IT Solutions South Africa partners with Liquid C2 to deploy Azure Stack infrastructure across AfricaLusaka, Zambia, 16 August 2023 – Boston IT Solutions South Africa, a business of Boston Limited (Boston) is pleased to announce a partnership with Liquid C2, a business of Liquid Intelligent Technologies, to provide them with a turnkey solution to deploy hybrid cloud infrastructure on the African continent. The first of these centres will be […]
Read more »