Staff Writer
The top eight contributors to Standard Bank Group’s Africa Regions headline earnings were Angola, Ghana, Kenya, Mauritius, Mozambique, Nigeria, Uganda and Zambia, as the banking group reported a 10% increase in headline earnings for the six months ended June 2026.
Standard Bank Group recorded headline earnings of N$26.1 billion in the first half of 2026, up 10% from the prior comparative period, while return on equity (ROE) stood at 19.8%, near the midpoint of the group’s target range of 18% to 22%.
The group’s Africa Regions franchise contributed N$10.4 billion to headline earnings, representing 40% of total group headline earnings.
South African franchises contributed N$13.4 billion, or 51%, while Offshore businesses contributed N$1.3 billion and the group’s 40% stake in ICBC Standard Bank Plc contributed N$1 billion.
The performance was supported by healthy balance sheet growth and continued momentum in fee and trading revenues across the banking businesses.
Standard Bank said credit impairment charges were lower compared with the previous period, supported by what it described as a resilient macroeconomic environment, while costs remained well managed.
Insurance and Asset Management also continued to deliver strong earnings growth and returns during the period.
The group’s active client base increased to 19.5 million in the first half of 2026, driven by growth in both South Africa and Africa Regions.
In South Africa, initiatives aimed at increasing digital retail transactional clients resulted in a 9% increase in digital clients and a 17% increase in digital transactional volumes. The proportion of transactional clients who transact digitally increased to 69%.
Standard Bank said it remained positive about the outlook for its African operations, with economic growth in sub-Saharan Africa expected to remain resilient at about 4.3% in 2026 before improving to 4.5% in 2027.
The group said the outlook was supported by macroeconomic stabilisation and reform efforts in key markets, including Angola, Ghana, Nigeria and Zambia, alongside stronger policy frameworks and favourable terms of trade in commodity-exporting countries.
However, elevated energy and food prices, geopolitical risks and increasing trade fragmentation remain risks to the economic outlook.
Standard Bank said it remained committed to its 2028 targets, including headline earnings per share compound annual growth of between 8% and 12% and ROE within its target range of 18% to 22%.
The group also continues to deploy capital into growth opportunities across its African footprint. It invested additional capital in Standard Bank Tanzania in July 2026 and remains on track to increase its shareholding in Standard Bank Angola during the second half of the year.
Standard Bank said these investments would strengthen its presence in two of what it considers attractive growth markets on the continent.
The group has also mobilised N$328 billion in sustainable finance for clients cumulatively since 2022, against a target of N$450 billion by 2028. During the first half of 2026 alone, it mobilised N$50.6 billion.
