Fin24

Standard Bank loans up 50% in 2011

2012-01-27 09:56

Johannesburg - Standard Bank Group [JSE:SBK], Africa’s largest lender, lent R75bn to its South African personal and business customers in 2011, nearly 50% more than the previous year.

Home loans rose R34bn, Peter Schlebusch, the CEO of personal and business banking, said in a statement on Thursday. Loans to the affordable housing segment grew 54%, he said.

Standard Bank will post its full-year financial results in March. Its shares closed Thursday’s session at R106.16, up 7.5% this year.

 

Comments
  • Gerrit - 2012-01-31 17:13

    I find it absolutely astounding that Standard has the capital to advance these loans to clients as they have not paid an amount of R5B owing to investors for the last two years.Could it be that they are using investors funds as collateral against borrowing.We know they have held the funds and have traded it for two years.Legal action is putting pressure on them to repay the investors with interest.That should have a serious effect on their liquidity.If they are actually in the process of putting forth a new collateral to replace the existing one the effect will be that they will have a interest bearing collateral where previously investors funds had no interest charge.Disgrace as it has lost SA hundreds of employment opportunities as investors question the integrity of financial institutions in SA.

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