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Standard Bank’s focus on increasing its presence across Africa outside its home market is showing positive results as South African consumers continue to come under severe pressure due to Covid-19. A big decline in full-year profit was expected for 2020 following a number of trading statements by the banking group. However, its operations in Africa outside South Africa provided a bit of a cushion, growing headline earnings to the extent that they contributed 58% of total banking headline earnings for the year, up from less than 33% in 2019.  Standard Bank of South Africa, which incorporates its local banking business, reported a 72% decline in headline earnings, while Africa Regions grew headline earnings by 9% – or 4% if you strip out foreign currency movements. Angola, Ghana, Kenya, Mozambique, Nigeria and Uganda remain the top six contributors.

North westSouth africaSouth africanArno daehnkeMeyrick barkerSa reserve bankStandard bankAfrica regionKagiso assetInvestment bankingவடக்கு மேற்குச இருப்பு வங்கிதரநிலை வங்கிமுதலீடு வங்கி