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Standard Bank CEO Sim Tshabalala on record profits; ICBC; Absa's rejuvenation; Kokkie's concerns; 2025 commitments and more

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After running hard since mid-July, Standard Bank's share price dropped on the release of half year results to end June, reflecting Mr Market's inclination to buy on rumour, sell on fact. But with a 33% surge in headline earning to a fresh half year record, CEO Sim Tshabalala's description of "reasonable" results is an understatement. The bank's numbers are now back to pre-pandemic levels and in this in-depth interview with Alec Hogg of BizNews, the man who will next year celebrate a decade in the top job looks ahead and addresses key issues including booming non-SA operations; ambitious commitments for 2025; and 20% Chinese shareholder ICBC whose $5.6bn investment in 2007 is now worth a modest $3.5bn. Tshabalala also responds to criticism on BizNews by SA's leading banking analyst Kokkie Kooyman who opined that rather than challenging FirstRand as SA banking's top dog, Standard Bank's #2 spot is in danger of being yielded to Absa. Learn more about your ad choices. Visit megaphone.fm/adchoices
19 Aug 2022 8AM English South Africa Investing · Business News

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