Standard Bank: Strong Income Growth Despite Challenging Conditions
26 Mai 2016 - 9:21AM
Dow Jones News
By Tapan Panchal
LONDON--Standard Bank Group Ltd. (SBK.JO) said Thursday that it
has seen strong growth in net interest income in the first four
months of 2016, despite difficult economic conditions in South
Africa and several other countries on the African continent.
The South African lender said credit impairment charges rose due
to a "challenging environment." Expenses increased more than
income, exacerbated by a weak South African rand, but remained
within expectations, the bank added.
Standard Bank's tier I capital adequacy ratio, excluding
unappropriated profit, stood at 11.9% as at March 31.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
May 26, 2016 03:06 ET (07:06 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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