Johannesburg - Investors on the JSE responded positively on Thursday morning to news that Standard Bank [JSE:SBK] has shifted its focus firmly to Africa.
The banking group announced disappointing results on Thursday morning, with headline earnings only 1% higher due to huge losses suffered by its activities outside Africa, but the market was more interested in the news that these businesses have been disposed of and that the focus will now be on Africa, where continuing operations produced solid results and earnings growth of 20%.