TSX runs higher on rate cut expectations
Investing.com -- Standard Bank Group maintained its annual guidance on Thursday after reporting strong performance for the first five months of the year.
The South African bank reaffirmed that it expects banking revenue growth in the mid-to-high single digits for 2025, with the banking-cost-to-income ratio flat to down compared to the previous year.
The group’s return on equity is expected to remain within the targeted range of 17% to 20%.
"Despite the considerable uncertainty and market volatility, the group’s established and well diversified franchise continued to deliver a resilient performance," the bank said.
Standard Bank forecasts that headline earnings growth for the first half of the year will be slower than the growth recorded in the first five months, which was approximately 10% - similar to the first quarter’s rate.
This slower growth projection is attributed to the particularly strong performance in June 2024.
The bank also noted that its return on equity for the five-month period remained within the guided range for the year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.