Standard Bank’s headline earnings grew for the year to December 31, 2018 rose 6% to R27.9 billion.
Banking activities headline earnings grew 7% to R25.8 billion and ROE improved to 18.8% from 18.0% in 2017.

Headline earnings per share (HEPS) is the main profit measure in South Africa.

Non-interest revenue (NIR) continued to record strong growth, driven by retail banking. Net interest income (NII) growth was dampened, and credit impairment charges were lower, as a result of the adoption of a new accounting standard.

The 2018 group results were less impacted by currency movements than in prior years. On a constant currency basis, group headline earnings grew 8%.

According to Standard Bank Group CEO Sim Tshabalala, “Standard Bank Group delivered sustainable earnings growth and improved returns, underpinned by the strength and breadth of our client franchise.”
Africa Regions’ contribution to banking headline earnings grew to 31% from 28% in 2017.

The top five contributors to Africa Regions’ headline earnings were Angola, Ghana, Mozambique, Nigeria and Uganda.

ROE improved to 18.0% from 17.1% in the prior year. The group’s capital position remained robust, with a common equity tier 1 (CET1) ratio of 13.5%.

A final dividend of 540 cents per share has been declared, resulting in a total dividend of 970 cents per share, an increase of 7% on the prior year.