Malawi Stock Exchange-listed, Standard Bank, on Thursday reported a 37 percent slump in after-tax profit for the year ended December 31 2017. Standard Bank’s profit also took a hit after a 40% stake in London-based ICBC Standard Bank suffered a small loss, while earnings from its 20% holding in ICBC’s Argentina unit weren’t included. Standard Bank reported a 43 per cent drop in half-year profit on soaring bad loans but said sound that its capital position will allow for a final dividend. Standard Bank Group Ltd. said Thursday that net profit for the first half fell sharply as credit-impairment charges soared due to the coronavirus pandemic, … Standard Bank Group Ltd. rose the most in three weeks after a decline in first-half profit was less severe than expected for Africa’s largest lender. Financial results Standard Bank continues to produce resilient financial results in challenging environments, ensuring that you, our client, benefit from our Africa-focused strategy and our strong balance sheet to support your business growth goals with the African continent and globally. File Photo: IOL. The bank said it posted a profit of K12.162 billion which is K7.263 billion shy of the K19.425 billion realised in 2016. In its published financial statement issued yesterday, the bank attributes the positive performance to a 12 percent increase in net income, emanating from growth of the customer loan … The meeting this year was held digitally as way of preventing the spread of Covid-19 through restrictions on […] Standard Bank has reported that first-half profits fell more than a third in its six months to end-June, as Covid-19 weighed on economic activity and the ability of its clients to repay their debts. Standard Bank Plc has registered a 50% rise in its 2019 profit margins with an after-tax value of MK15.9 billion from MK10.6 billion in 2018, this according to a statement released at the company’s annual general meeting. The development has been attributed to credit loses perpetuated by growth … (Bloomberg) – Standard Bank Group Ltd., Africa’s largest bank, expects trading revenue to fall in the second half of the year as a jump in credit losses cuts profit. Standard Bank is the largest African bank by assets, with a footprint across 20 African countries. Standard Bank had already warned that profits would likely be at least 20% lower, with the pandemic prompting a spike in bad loans and also hitting new business and fee income from transactions. By Sandile Mchunu Aug 17, 2018. – Standard Bank Group Ltd. said first-half profit plunged by as much as half with fallout from the coronavirus hammering customers of Africa’s largest bank. Standard Bank Plc has registered a 50% rise in its 2019 profit margins with an after-tax value of MK15.9 billion from MK10.6 billion in 2018, this according to a statement released at the company’s annual general meeting. By Justin Mkweu: Profit-after-tax for Standard Bank plc went up by 50 percent to K15.9 billion in the year ended December 2019 from K10.5 billion in 2018. Earnings per share before one-time items in the six months through June probably fell 30% to 50% from a year earlier, the Johannesburg-based lender said in a statement on Wednesday. Standard Bank scores 5% profit growth. The meeting this year was held digitally as way of preventing the spread of Covid-19 through restrictions on […]
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