Standard Bank CET1 Ratio Stood at 12.5% at the End of 3Q

By Dimitrios Kontos Features Dow Jones Newswires

Standard Bank Group Ltd. (SBK.JO) said Thursday that its common equity tier 1 ratio was 12.5% at the end of the third quarter, beating the 11% that Africa's biggest lender by assets had originally targeted.

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The Johannesburg-based bank said that earnings attributable to shareholders grew 16% on year during the three months ended Sept. 30, despite the relative strength of the South African rand.

The company said that while revenue remains under pressure, fruitful cost-control delivered better operational efficiency.

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

(END) Dow Jones Newswires

October 19, 2017 02:47 ET (06:47 GMT)