Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Standard Bank Group Ltd    SBKJ   ZAE000109815

End-of-day quote. End-of-day quote  - 12/09
155.89 ZAR   +2.59%
07:33p Stanbic meets $100m 2020 capital threshold
01:11a Stanbic to appeal ‘bad debtor’ judgment
12/08 STANBIC BANK UG : Nude Pictures Land Bank Teller in the Dock
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Stanbic meets $100m 2020 capital threshold

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/09/2016 | 07:33pm CET

STANBIC Bank Zimbabwe has achieved the 2020 capital threshold of $100 million for commercial banks in line with the Reserve Bank of Zimbabwe (RBZ) guidelines.

The Standard Bank Group subsidiary has maintained a steady performance over the years and has bagged a number of accolades for efficient financial service.

An analysis in the recent Top Companies Survey shows that Stanbic Bank was second in terms of profitability and overall third in terms of return on assets and operational efficiency ratios.

As at June 30, 2016, the banks non-performing loans (NPLs) ratio was at about 5 percent and this was well below the market average of 10 percent. The 5 percent non-performing loan ratio was the third lowest while the bank had the third largest total deposits base.

The banks lowest ranking was fifth out of 12, under regulatory capital as at June 30, 2016. However, its regulatory capital position has since improved and was at $ 103 million as at August 31, 2016.

Stanbic Bank has remained robust, defying the turbulent and low growth in the banking sector to record an increase in total deposits from $484 million as at December 31, 2015 to $ 642 million as at August 31, 2016, the bank said in a statement yesterday.

The banks low non-performing loans position has enabled it to earn higher profit after taxation and this has helped strengthen the banks regulatory capital base. This effectively means Stanbic Bank has already complied with the 2020 minimum capital requirements of $100 million.

Stanbic has been voted the best bank in two surveys conducted by two of the countrys leading financial services institutions in Zimbabwe. The bank came out tops in the Banks and Banking Survey as well as in the Top Companies Survey conducted by diversified financial and investment giant, Old Mutual.

The two accolades came at a time the banking sector in Zimbabwe is beset by a plethora of problems, chief among them being a liquidity crunch, which has seen confidence in the sector nose dive to all time low.

Stanbic Bank Zimbabwe Limited continues to outperform on a number of metrics, and this can only be achieved by a strong and dedicated leadership that strives to stick to international banking best practices. We strongly believe that the bank remains on a solid growth path, going forward, wrote the analysts in the surveys.

Stanbic Banks income statement showed a 11 percent growth in net interest income, mainly driven by the growth in its earning assets.

Surprisingly, non-interest income came in lower than prior year despite the massive growth in deposits and this was attributable to decline in transactions due to forex shortages and regulatory directives on charges and surrender requirements on mineral and tobacco exports.

Non-interest income, is however, expected to grow significantly in the next reporting period with the increasing electronic and card transactions as the effects of the cashless banking take its toll.

Internationally, Stanbic Bank was also voted the Best Wealth and Investment Bank at the UK based Wealth and Finance Awards 2016 organised by Wealth & Finance International. Wealth and Finance International is dedicated to providing fund managers, institutional and private investors around the world with the latest industry news across both traditional and alternative investment sectors.

(c) 2016 Cihan News Agency. All right reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on STANDARD BANK GROUP LTD
07:33p Stanbic meets $100m 2020 capital threshold
01:11a Stanbic to appeal ‘bad debtor’ judgment
12/08 STANBIC BANK UGANDA : Nude Pictures Land Bank Teller in the Dock
12/08 Stanbic Bank Staff support baby with hole in heart
12/07 STANBIC BANK UGANDA : Increased demand lifts private sector growth from four-mon..
12/06 STANBIC BANK UGANDA : Construction industry future bright
12/02 Rollers happy to bag Stanbic sponsorship
12/02 STANDARD BANK : in Malawi invests in AIDS fight
11/29 STANDARD BANK : Hunt For Botswanas Best Startup Begins
11/27 Teacher arrested for stealing mobile phone in the bank
More news
Sector news : Commercial Banks
10:14pDJFinancial-Services Firms Start to Scout for New Office Space
07:09p Time Inc hires bankers to explore takeover, partnership interest - WSJ
06:57p BANCA MONTE DEI PASCHI DI SIENA : Italian decree to support banking system is re..
06:46p FTSE records best week since July, Sky surges 27 percent on Fox bid
05:36pDJApple's Mysterious AirPods Delay Marks Rare Misstep
More sector news : Commercial Banks
News from SeekingAlpha
10/05 Buy South-African Banks For Their Dividend Yield
2015 Old Mutual CEO announces departure
2015 Big banks face U.S. probe over metal pricing
Advertisement
Financials ( ZAR)
Sales 2016 106 842 M
EBIT 2016 41 899 M
Net income 2016 23 775 M
Debt 2016 -
Yield 2016 4,80%
P/E ratio 2016 10,51
P/E ratio 2017 9,72
Capi. / Sales 2016 2,36x
Capi. / Sales 2017 2,20x
Capitalization 252 351 M
More Financials
Chart STANDARD BANK GROUP LTD
Duration : Period :
Standard Bank Group Ltd Technical Analysis Chart | SBKJ | ZAE000109815 | 4-Traders
Full-screen chart
Technical analysis trends STANDARD BANK GRO...
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 12
Average target price 141  ZAR
Spread / Average Target -8,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Simpiwe Kenneth Tshabalala Group Co-CEO & Executive Director
Ben J. Kruger Group Co-CEO & Executive Director
Thulani Sikhulu Gcabashe Chairman
Arno Daehnke Group Financial Director & Executive Director
Myles J. D. Ruck Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
STANDARD BANK GROUP LT..37.89%18 461
HSBC HOLDINGS PLC26.74%169 418
AGRICULTURAL BANK OF C..0.31%151 126
AUSTRALIA AND NEW ZEAL..3.11%64 566
JAPAN POST BANK CO LTD-15.87%56 675
SHANGHAI PUDONG DEVELO..2.78%53 705
More Results