Standard Bank Group reported headline earnings of R26.1 billion for the six months to June 2026, up 10% on the same period a year earlier, with return on equity improving to 19.8% from 19.1%. In results released on Thursday, the group said 51% of headline earnings came from the South African franchise and 40% from Africa Regions.
Headline earnings per share rose 10% to 1,609 cents, and the group declared an interim dividend of 902 cents per share, up 10%.
AFRICA REGIONS ANCHOR THE RESULT
The group derived 51% of headline earnings from its South African business and 40% from Africa Regions, with the balance from its Offshore businesses (R1.3 billion) and its 40% stake in ICBC Standard Bank (R1 billion).
The largest contributors to Africa Regions headline earnings were Angola, Ghana, Kenya, Mauritius, Mozambique, Nigeria, Uganda and Zambia. Chief Executive Sim Tshabalala said strong client-led growth in non-interest revenue, together with disciplined cost and credit management, supported growth in headline earnings.
The 10% headline earnings growth was accompanied by an ROE of 19.8%, near the midpoint of the group's 2028 target range of 18% to 22%. The cost-to-income ratio improved to 49.3%, and the credit loss ratio fell to 73 basis points from 93 basis points.
REVENUE GROWTH AND LOWER IMPAIRMENTS
Revenue growth was driven by higher fee and trading revenues alongside healthy balance sheet growth. Earnings growth was also supported by lower credit impairment charges and well-managed costs, the group said.
Corporate and Investment Banking headline earnings rose 15% to R13.8 billion.
Among South African peers, Nedbank had earlier reported broadly unchanged headline earnings of R8.4 billion, while Absa was yet to publish its interim results. Standard Bank said it expected stronger banking revenue growth in the second half as interest-rate headwinds eased, Reuters reported.
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