|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.11 - 11.23|
|52 Week Range||10.52 - 14.93|
|Beta (5Y Monthly)||0.79|
|PE Ratio (TTM)||9.19|
|Forward Dividend & Yield||0.62 (5.47%)|
|Ex-Dividend Date||Sep 11, 2019|
|1y Target Est||N/A|
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 antitrust tribunal concluded on Wednesday that it has no powers to charge foreign banks being investigated in an exchange-rate rigging case unless they have a presence in the country. Partly on that basis, the tribunal sent the case back to the country's competition watchdog, giving it 40 days to clarify the charges it plans to bring. In a probe that has rumbled on since 2015, the Competition Commission has been seeking fines against 23 local and foreign banks that it alleges colluded to coordinate activities when giving quotes to customers buying or selling the rand and the dollar.
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).
Standard Bank shareholders on Thursday voted down a resolution that would have required the South African lender to report climate risk in its activities, although they passed another forcing it to disclose its coal financing policies. It was the first time a South African company had tabled a resolution on climate-related issues, according to shareholder group Just Share, which supported the motion. Just Share executive director, Tracey Davies, said the motion had received far more support than expected.
Moody's Investors Service ("Moody's") has today assigned B1/Not Prime local currency long-term and short-term deposit ratings and B3/Not Prime foreign currency long-term and short-term deposit ratings to Stanbic Bank Uganda Limited (Stanbic Uganda). Stanbic Uganda's B3 foreign currency deposit rating is constrained by Uganda's foreign currency deposit rating ceiling of B3.
NOTE: On May 15, 2019, the press release was corrected as follows: In the debt list, under Assignments for Standard Bank Group Limited and The Standard Bank of South Africa Limited, the Subordinate Medium-Term Note Program was changed to Senior Subordinate Medium-Term Note Program. London, 10 May 2019 -- Moody's Investors Service ("Moody's") today assigned provisional long and short term ratings of (P)Ba1/(P)Not Prime to senior unsecured debt issued by Standard Bank Group Limited (SBG) and updated the USD4 billion Euro Medium-Term Note (EMTN) programme. Moody's also assigned provisional short-term ratings of (P)Prime-3 to short-term senior unsecured debt issued by The Standard Bank of South Africa Limited (SBSA) out of the same EMTN programme.
Moody's Investors Service, ("Moody's") has today assigned provisional (P)Ba2 subordinated Tier 2 ratings to Standard Bank Group Limited (SBG) and The Standard Bank of South Africa Limited (SBSA) under their updated USD4 billion Euro Medium-Term Note (EMTN) programme. This is in line with Moody's standard notching guidance for subordinated debt that includes contractual loss-absorption features triggered at the point of non-viability. If a statutory loss absorption regime is officially implemented in South Africa, the issuer also has the option to elect that the non-viability loss absorption condition shall cease to apply and that the statutory loss absorption regime will apply, so that the notes will continue to qualify as Tier 2 capital.
Moody's Investors Service ("Moody's") today assigned provisional long and short term ratings of (P)Ba1/(P)Not Prime to senior unsecured debt issued by Standard Bank Group Limited (SBG) and updated the USD4 billion Euro Medium-Term Note (EMTN) programme. Moody's also assigned provisional short-term ratings of (P)Prime-3 to short-term senior unsecured debt issued by The Standard Bank of South Africa Limited (SBSA) out of the same EMTN programme. Additionally, Moody's assigned provisional long-term ratings of (P)Ba1 to subordinated debt issued by both SBSA and SBG out of the EMTN programme.