Standard Bank said on Monday that its
half-year earnings are expected to be more than 20 per cent
from the
previous year due to the impact of the coronavirus pandemic.
The bank, Africa’s largest by assets
said headline earnings per share (HEPS), the main profit measure used in
South Africa, for the six-month period ending June, 30, was expected to
be more than 20 per cent lower compared with HEPS of 837.4 cents in the
year ago period.
“There remains a high degree of uncertainty regarding the impact that
the Covid-19 pandemic and the associated governmental responses will
have on the economies in the markets in which the group operates, and in
turn, on the group,” Reuters quoted the company to have said. Interim
results are expected to be released on August 20
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