Standard Bank has posted flat profits as economic conditions continue to deteriorate both locally and in the rest of Africa. Headline earnings which is a measure of profit grew just 1 percent to R28-billion. The bank says the weak economy has been weighing on consumers and credit impairment charges are up by 23 percent.
Full list: Standard Bank to close 100 branches The number of active clients in SA dropped 1 percent to 7.3 million, though active clients in the group’s rest-of-Africa operations grew 8 eprcent to 5.3 million.
Standard Bank expects trading conditions to remain challenging due to technological changes in the industry and increasing competition.
In other news – DJ Tira joining #TheQueenMzansi
Let’s hope he isn’t just saying, we really looking forward to his grand entrance! DJ Tira aka Malum’Bearings is a man of many talents, having said that, it seems as if the renowned DJ is ready to add another title to his impressive resume.
Tira recently hinted at joining Mzansi Magic’s popular sudser The Queen Mzansi. This is after he teased fans with an image of him and the producer of the show Shona Ferguson on set. Read more
Source: eNCA
