South Africa’s Standard Bank Expects Earnings to Be Hurt by Currency Strength

Currency Impact on Performance: Standard Bank Group reported that currency devaluations and the strength of the South African rand affected its performance in local currency, although it remains confident in its full-year guidance.

Earnings Growth: The bank's group headline earnings increased by low-to-mid single digits in rand for the ten months ending October 31, while showing mid-teens growth on a constant currency basis.