Standard Bank Reports 4% Increase in Annual Profit for 2023

Standard Bank reported a 4% increase in annual profit, with headline earnings rising to 44.5 billion rand, and announced a final dividend of 763 cents per share for the year ending December 31.

Standard Bank, the largest lender in Africa by assets, announced a 4% increase in its annual profit on Thursday. The institution reported that headline earnings reached 44.5 billion rand, equivalent to approximately $2.42 billion, for the fiscal year ending December 31. This marks an increase from the previous year’s earnings of 42.9 billion rand. Furthermore, the bank declared a final dividend of 763 cents per share, reflecting its commitment to shareholder returns.

In conclusion, Standard Bank has demonstrated a positive financial performance with a 4% rise in annual profits, showcasing growth in headline earnings and a commitment to distribute dividends to its shareholders. The figures reflect the bank’s ability to navigate financial challenges while enhancing investor value.

Original Source: www.tradingview.com