Standard Bank Reports 4% Increase in Annual Profit

Standard Bank, Africa’s largest lender, reported a 4% rise in annual profit to 44.5 billion rand, declaring a final dividend of 763 cents per share for the year ending December 31.

On Thursday, Standard Bank, recognized as Africa’s largest lender by assets, announced a 4% increase in its annual profit. The South Africa-based institution reported that its headline earnings reached 44.5 billion rand, approximately $2.42 billion, for the fiscal year ending December 31. This figure marks an increase from 42.9 billion rand recorded in the prior year. Additionally, the bank declared a final dividend of 763 cents per share, reflecting its commitment to returning value to shareholders.

In summary, Standard Bank’s recent report highlights a modest growth in annual profits alongside a significant dividend declaration. The increase in headline earnings indicates a positive financial trend for the bank, reinforcing its status as a leading financial institution in Africa.

Original Source: money.usnews.com