Company Data
| Last traded |
R113.00 |
| Change |
R-0.10 |
| % Change |
-0.09% |
| Cumulative volume |
3.20m |
| Market cap |
R179.93bn |
| Last traded |
R25.00 |
| Change |
R-0.06 |
| % Change |
-0.24% |
| Cumulative volume |
12.14m |
| Market cap |
R140.95bn |
Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 12:44
Zimbabwe has directed banks not to provide services to a local unit of SA-owned miner Zimplats, after it continued to put money in offshore accounts.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - South Africa’s top two lenders said on Thursday they expect profits to rise by around 20%, in the latest sign that banks in SA are back on the road to recovery after a 2009 recession suppressed credit demand.
Standard Bank Group [JSE:SBK], Africa’s biggest lender by assets, said its full-year diluted headline earnings per share (EPS) likely grew by between 18 and 22%, in line with the 19.5% average increase in a survey of 13 analysts by Reuters.
Smaller rival
FirstRand [JSE:FSR] said its diluted normalised EPS grew by 24-28% in the six-month period to end-December.
Johannesburg-based Standard Bank, which is 20% owned by Industrial and Commercial Bank of China, will report its results on March 8. FirstRand’s announcement is scheduled for February 28.
South African banks have been helped by steady declines in bad debts, which surged during the 2009 recession. However, demand for credit still remains muted. Standard Bank said in January that it lent 50% more to its South African personal and business customers in 2011.
Smaller rival Absa Group posted a 21% increase in full-year profit earlier this month.
Standard Bank said on Wednesday it would be cooperating with Japan’s second-largest lender by assets Mizuho Financial Group on bringing more Japanese clients to Africa, confirming an earlier Reuters report.
Shares of Standard Bank, which has operations in at least 17 sub-Saharan countries, are up over 10% so far this year and those of FirstRand have gained 9.6%.