South Africa · Delayed Price · Currency is ZAR · Price in ZAc Standard Bank Group Earnings Call Transcripts
Fiscal Year 2026
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The group outlined a clear strategy to drive growth across Africa, leveraging technology, AI, and payments modernization, with ambitious 2028 financial targets. Each business unit has defined growth drivers, and capital allocation will balance organic expansion, selective M&A, and shareholder returns.
Fiscal Year 2025
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Delivered 11% headline earnings growth and 19.3% ROE in 2025, outperforming peers and meeting all medium-term targets. Diversified business and strong capital position support robust outlook for 2026 and beyond, with continued focus on digital transformation and sustainable finance.
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Performance for the 10 months to October 2025 was robust, with strong revenue, deposit, and earnings growth across business units. Asset quality improved, provisions for sovereign stress were managed, and guidance for 2025 and new 2026–2028 targets were reaffirmed.
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Headline earnings rose 8% year-over-year, with record ROE of 19.1% and strong fee and trading revenue growth. Guidance remains positive despite macro headwinds, with robust capital ratios and continued expansion in Africa regions.
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Headline earnings grew 10% in ZAR, with strong non-interest revenue and resilient credit quality. Full-year guidance for revenue, cost-to-income ratio, and ROE is reaffirmed, while cost initiatives and share buybacks support performance. Loan growth and FX headwinds are expected to improve in the second half.
Fiscal Year 2024
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Headline earnings rose 4% to ZAR 45 billion, with ROE at 18.5% and cost-to-income ratio at 50.5%. 2025 guidance anticipates mid to high single-digit income growth, stable credit loss ratios, and continued strong capital returns.
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Record headline earnings and robust ROE were achieved despite FX headwinds and high rates. Cost discipline, strong client growth, and digital investments supported performance. Outlook remains positive, with easing rates expected to drive loan growth and FX impacts to subside.
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Headline earnings grew in low to mid-single digits in rands and mid-teens in constant currency, with positive jaws and ROE within target. Balance sheet growth is expected to improve in H2, and sustainable finance is on track. FY24 guidance is unchanged, with credit loss ratio expected near 100bps.
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The AGM highlighted progress amid global challenges, with a focus on cost control, credit risk, and sustainability. All resolutions, including board renewals and auditor rotations, were approved. The group remains committed to diversity, climate policy, and robust risk management.