Standard Bank Group headline earnings up 4% to ZAR45bn

Standard Bank Group reported a 4% increase in headline earnings to R45 billion for the year ended December 31, 2024. Total net income was up 2% to R181.729 billion. Headline earnings per share rose 4% to 2691.0 cents. The group's ROE was 18.5%. The results were underpinned by balance sheet growth, lower credit impairment charges, and strong performance in Insurance & Asset Management. Active clients grew 4% to 20 million. The board approved a final dividend of 763 cents per share, bringing the total dividend for the year to 1507 cents, up 6% year on year. The group remains on track to meet its target of mobilising over R250 billion in sustainable finance by the end of 2026; since 2022 it has cumulatively mobilised R177 billion. Looking ahead, the group expects solid growth and targets an ROE range of 18%-22% for 2026-2028.