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

By Dimitrios KontosFeaturesDow 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.

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.

Continue Reading Below

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)