Premium Journalist
1 minute read
28 May 2015
9:24 am

Standard Bank expenses rising higher than income


Standard Bank Group said on Thursday that it had grown income satisfactorily in the first four months of the year despite challenging economic conditions in several of its markets, especially Nigeria.

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Although the rise in expenses was as expected, it was slightly higher than income growth, the group said in a statement ahead of its annual general meeting.

“In summary, the results of the group’s banking operations for the year to date are in line with the required growth to achieve the group’s medium term target for return on equity of 15 percent to 18 percent,” it said.