South Africa’s Standard Bank H1 profit up 9%

By bne IntelliNews August 12, 2010
Africas largest lending bank by assetsreported a 9% rise in H1, assisted by a decline in bad debts, but remainscautious due to slow recovery in SA. Standard Bank, which is 20% owned byIndustrial and Commercial Bank of China, said HEPS for H1 to year-end Junetotalled ZAR 381.9 cents, against ZAR 351.3 cents a year earlier. The bank saidthat this month (July) it expected profits to rise by 6% to 12%. Analysts saythat it is too soon to declare a full recovery as personal debt levels andunemployment remain high following the recession which ended last year.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss