Standard Bank, Africa’s biggest lender by assets, reported record profit as a growing client base bolstered fee and commission income, and as market volatility drove trading revenue.
Headline earnings for the year climbed 10.5% to R49.2 billion ($2.9 billion), the Johannesburg-based lender said. That compares with the R48.2 billion median estimate compiled by Bloomberg. The lender declared a final dividend of R8.78 per share, bringing the total payout for the year to a record R16.95.
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