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 meeting this year was held digitally as way of preventing the spread of Covid-19 through restrictions on […] 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. 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. (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. 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. 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. Standard Bank scores 5% profit growth. 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 is the largest African bank by assets, with a footprint across 20 African countries. 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 Group Ltd. said Thursday that net profit for the first half fell sharply as credit-impairment charges soared due to the coronavirus pandemic, … By Sandile Mchunu Aug 17, 2018. 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’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. The meeting this year was held digitally as way of preventing the spread of Covid-19 through restrictions on […] The development has been attributed to credit loses perpetuated by growth … 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 … 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. – 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. 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. File Photo: IOL.

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