Standard Bank’s South African operations contributed 40% to the group’s headline earnings of R21.2 billion, representing a 35% increase compared to the same period last year in the first half of 2023. Group chief executive Sim Tshabalala attributed the positive results largely to an increasing number of clients “doing more” with Standard Bank. The bank’s personal and private banking clients increased 9% to 15.4 million, business and commercial banking clients were up 5% to 819 000 and new business value in the insurance and asset management segment rose 32% to over R1.4 billion, with more than R1.4 trillion in assets under management. The bank also disbursed more than R450 million to individuals for solar solutions and green-aligned homes.
