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Harare- Stanbic Bank, the Zimbabwe-based division of Standard Bank [JSE:SBK], posted 18.8% growth in after-tax profit to US$9.6m for the half-year ended June 2014.
The group recorded an increase in income to $39.3m during the period under review from $36.8m, while its assets grew by 4% to $494.9m.
Credit impairment charges were up by 59% to $2.4m as Zimbabwean banks continue to grapple with non-performing loans.
Staff costs went up by 8.92% to $11.6m. Zimbabwean bank workers last week called on the banking populace to boycott services offered by Stanbic Bank, until it respects its employees through raising their salaries and covering their medical fees among other demands. http://www.fin24.com/Companies/Financial-Services/Call-to-boycott-Standard-Bank-in-Zimbabwe-20140825
Now read: Call to boycott Standard Bank in Zimbabwe
Stanbic Bank was recently recognised as the Best Bank in Southern Africa in the African Banker Awards Ceremony which took place in Kigali, Rwanda.
The group recorded an increase in income to $39.3m during the period under review from $36.8m, while its assets grew by 4% to $494.9m.
Credit impairment charges were up by 59% to $2.4m as Zimbabwean banks continue to grapple with non-performing loans.
Staff costs went up by 8.92% to $11.6m. Zimbabwean bank workers last week called on the banking populace to boycott services offered by Stanbic Bank, until it respects its employees through raising their salaries and covering their medical fees among other demands. http://www.fin24.com/Companies/Financial-Services/Call-to-boycott-Standard-Bank-in-Zimbabwe-20140825
Now read: Call to boycott Standard Bank in Zimbabwe
Stanbic Bank was recently recognised as the Best Bank in Southern Africa in the African Banker Awards Ceremony which took place in Kigali, Rwanda.
