Standard Bank Group’s earnings climbed 10% to a record R26.1 billion in the first half of 2026, with its African operations outside South Africa accounting for 40% of the group’s profit.
The group said headline earnings rose 10% in the six months to June 30, while return on equity increased to 19.8%, putting the bank within its 2028 target range of 18% to 22%.
Africa outside South Africa accounted for 40% of group headline earnings, with operations in Nigeria, Kenya, Ghana, Uganda, Angola, Mozambique, Zambia and Mauritius contributing R10.4 billion.
South Africa remained the largest contributor with R13.4 billion, representing 51% of total earnings.
See also: CBN Opens Regulatory Sandbox for Crypto, Fintech Firms
“Standard Bank delivered a strong performance in the first half of 2026,” CEO Sim Tshabalala said, crediting growth in non-interest revenue and disciplined management of costs and credit.
The bank’s Corporate & Investment Banking unit led earnings growth, with headline earnings rising 15% to R13.8 billion. Insurance and Asset Management also recorded 15% growth.
Standard Bank also reported growth in its payments business. Domestic electronic payment values increased 11%, while cross-border payments rose 7%.
Digital banking continued to expand in South Africa, with digital retail transactional clients growing 9%. The bank said 69% of its transactional clients now use digital channels, while digital transaction volumes increased 17%.
The group also mobilised R50.6 billion in sustainable finance during the first half of the year, taking its total since 2022 to more than R328 billion.
Standard Bank maintained its 2026 outlook, expecting banking revenue to grow in the mid-to-high single digits and return on equity to remain above last year’s level.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
