|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.63 - 5.80|
|52 Week Range||4.32 - 14.59|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||4.71|
|Forward Dividend & Yield||0.58 (10.01%)|
|Ex-Dividend Date||Apr 30, 2020|
|1y Target Est||N/A|
Standard Bank said on Wednesday credit impairment charges were "significantly higher" in the three months to March 31 compared to a year earlier, as the impact of the coronavirus hit its customers. The bank, Africa's largest by assets, has withdrawn its financial guidance for 2020 amid the outbreak of the virus and a nationwide lockdown in South Africa that is expected to have dire consequences for the continent's most industrialised economy. "Credit impairment charges for the period were significantly higher than in the prior year," Standard Bank said in a statement giving an overview of its performance.
Africa's biggest lender by assets Standard Bank said on Tuesday it would consider guidance from South Africa's central bank asking lenders not to pay dividends in 2020 as the coronavirus outbreak disrupts economies around the world. The South African Reserve Bank's Prudential Authority advised lenders on Monday not to pay dividends or bonuses due to the crisis, joining the Bank of England, European Central Bank and others in asking banks to skip shareholder returns. Standard Bank, which last week told investors it had not had any guidance from the central bank that such a move was imminent, said it would consider the request and advise shareholders in due course.
Rating Action: Moody's downgrades the ratings of five South African banks following downgrade on the South African sovereign. London, 31 March 2020 -- Moody's Investors Service ("Moody's") has today downgraded to Ba1 from Baa3 the long-term local currency and foreign currency deposit ratings of The Standard Bank of South Africa Limited, FirstRand Bank Limited, ABSA Bank Limited, Nedbank Limited and Investec Bank Ltd., the five largest banks in South Africa.
Africa's largest lender, Standard Bank, on Tuesday withdrew its guidance for its upcoming financial year, citing the uncertainty around the impact coronavirus will have on its performance. "While the COVID-19 pandemic continues to unfold and countries respond to this crisis in different ways, there is a high degree of uncertainty regarding the impact it will have on Standard Bank's financial performance in the 2020 financial year," it said in a statement.
Rating Action: Moody's affirms the Ratings of the Five Largest South African Banks following action on the South African sovereign and changes the outlook to negative. Global Credit Research- 05 Nov 2019. ...
South Africa's Standard Bank has taken a stake in local fintech firm Nomanini to offer credit to potentially millions of small shop owners and other informal retailers across Africa that have limited access to banking services. Africa's biggest bank by assets has invested $4 million in Nomanini, which connects informal merchants with distributors via an e-wallet, and aims to roll the service out across 14 African countries by early 2021. Nine out of 10 retail transactions in Africa are conducted in cash or via informal channels like kiosks and open-air markets, according to a 2017 report by audit firm Deloitte.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Standard Bank Group Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
South Africa's rand slumped on Tuesday after data showed the worst quarterly economic contraction in a decade at the start of 2019, while stocks gained. The rand was also hammered by news that South Africa's governing party has agreed to expand the central bank's mandate to include employment and growth as well as inflation. Investors are nervous about any changes that could curb the independence of the South African Reserve Bank (SARB).