Standard Bank Reports 4% Increase in Annual Profit

Standard Bank of South Africa reported a 4% increase in annual profit, reaching 44.5 billion rand. The bank also declared a final dividend of 763 cents per share, highlighting its financial stability.

Standard Bank, recognized as Africa’s largest lender by assets, disclosed a 4% increase in annual profit for the year ending December 31. The South Africa-based financial institution stated that its headline earnings surged to 44.5 billion rand, equivalent to approximately $2.42 billion, compared to 42.9 billion rand in the preceding year. In addition, the bank announced a final dividend of 763 cents per share.

In conclusion, Standard Bank’s latest financial results reflect a solid growth trajectory with a 4% rise in annual profit, alongside a significant dividend distribution to shareholders. This achievement underscores the bank’s robust financial health amidst challenging economic conditions.

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