Standard Bank sees 31% rise in headline earnings in first half of year

Wednesday 12 September 2018

Standard Bank Wealth International has seen a 31% increase in headline earnings in the first half of 2018, going from £19.4m to £25.5m.

Return on equity (ROE) increased from 17.6% to 19.0%, while Client Deposits increased by 4.7% to £5.2 bn and Assets Under Management by 19.4% to £2.9 bn.

Jersey's positive results mirrored a strong set of interim results at Group level.

Jonathan Peake, Chief Financial Officer of Standard Bank Wealth International, said: “These latest results represent an excellent performance by the business and reflect the efforts of all our dedicated staff who are committed to the successful delivery of our strategy. The macroeconomic picture has contributed to a positive set of results, while the business has continued to see robust growth within the underlying fundamentals and across its product and services.

“This strong set of interim results also reflects the Bank’s ongoing focus on Africa and commitment to serving our clients, many of whom have a strong connection to the continent. Our performance not only benefits the continent but also continues to create prosperity in Jersey, where Wealth International has been proud to be headquartered for more than 25 years.”