tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Standard Bank Group Reports Strong 2024 Earnings

Standard Bank Group Reports Strong 2024 Earnings

Standard Bank Group ( (SGBLY) ) has released its Q4 earnings. Here is a breakdown of the information Standard Bank Group presented to its investors.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

The Standard Bank of South Africa Limited, a subsidiary of Standard Bank Group Limited, is the largest operating entity within the group, providing financial services across Africa with its roots in South Africa.

In its latest financial report for the year ending December 2024, Standard Bank Group reported a significant increase in headline earnings, showcasing a robust financial performance amidst challenging economic conditions. The bank’s net asset value per share and return on equity also saw positive growth, reflecting effective management strategies.

Key financial highlights include a 10.7% increase in group headline earnings to R18.545 billion, a modest rise in net asset value per share to 206,390 cents, and an improved return on equity of 15.3%. The bank also issued Basel III compliant additional tier 1 capital bonds worth R1.5 billion while redeeming R1.9 billion. Dividends declared during the year amounted to R24 billion, indicating strong shareholder returns.

Looking forward, the management of Standard Bank Group remains optimistic about its ability to sustain growth and value creation for its stakeholders. The bank’s strategic focus on risk management, governance, and technological advancements positions it well to navigate future challenges in the financial sector.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1