Standard Bank headline earnings rose by 32% in 2017

Tuesday 27 March 2018

Standard Bank Wealth International ended 2017 with £36.8 million in headline earnings, a 32% increase on the previous year’s results.

The business reported a "robust performance" with a return on equity of 16.6%, a 6.2% increase in deposits to £5.1 billion, and a 17% increase in Assets Under Management to £2.6 billion.

The division’s positive results mirrored a strong set of results for Standard Bank Group, the largest bank in Africa by assets. Headline earnings were £1.5 billion,dividend per share increased by 17% to R910 cents, cost-to-income ratio improved to 55.7% and return on equity increased significantly to 17.1%.

 Jonathan Peake, Chief Financial Officer of Standard Bank Wealth International, said: “2017 has been another strong year for Standard Bank Wealth International. All areas of the business performed well and our client-focused strategy remained robust, despite challenging economic conditions in a number of our core African markets. These results are testament to the hard work and commitment of our staff and the reputation of the jurisdictions in which we operate. Standard Bank Wealth International is proud of its association with Jersey and last year celebrated the 25th anniversary of the business in the Island. As part of our broader Group, these results help drive Africa’s growth, while also providing jobs, investment and innovation in Jersey.”