Johannesburg - Standard Bank [JSE:SBK], has reported a 1% rise in full-year profits on Thursday, roughly in line with expectations, thanks to increases in lending, fees and trading.
Stripping out its London-based division, in which Standard Bank is selling a controlling stake to China’s ICBC, headline earnings rose 20%. Standard Bank raised its dividend 12% to 598 cents per share.
The lender said headline earnings per share (EPS) came to 1 070 cents last year, up from 1 065 cents in 2013. Headline EPS, the benchmark profit measure, which excludes certain one-time items.