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Standard Bank expects profit bump

SOUTH Africa’s Standard Bank Group this week said it expects to report a 40 percent rise in profit for the six months to June 30, boosted by signs of recovery in the local economy.
Headline earnings per share — the main gauge of corporate profit in South Africa ― will be around 663 cents, up from 473,8 cents in the January to June 2020 period, the bank said.

The coronavirus crisis bruised South African banks last year as the overall economic outlook darkened, with lenders setting aside large provisions for expected impairments as companies requested moratoriums on their loans.

Standard Bank is due to report first half results on August 19. – Reuters