Standard Bank Group has reported robust financial results for the year ending 31 December 2025, reflecting sustained earnings growth, expanding digital engagement and continued contributions from its operations across the African continent. The bank announced headline earnings of R49.2 billion and a return on equity of 19.3 percent, positioning performance at the upper end of its stated target range of 17 percent to 20 percent for the period. According to the group, these outcomes mark the fulfilment of strategic financial objectives first articulated in 2021.
The results were driven by growth in core banking revenues, stronger fee and trading income, and lower credit impairment charges. These improvements occurred alongside disciplined cost management and a gradually improving macroeconomic environment across several of the bank’s operating markets. Standard Bank confirmed that headline earnings per share increased by 12 percent to 3,026 cents, while the final dividend per share was declared at 878 cents, bringing the total annual dividend to 1,695 cents, also representing a 12 percent increase.
The group’s balance sheet and capital position remained stable during the reporting period. Tangible net asset value per share rose by 7 percent to 15,687 cents, while the common equity tier one capital ratio stood at 13.8 percent. The cost to income ratio improved slightly to 50.2 percent, continuing a multi year decline from 59.1 percent recorded in 2020. The credit loss ratio also improved to 73 basis points.
Standard Bank Group Chief Executive Sim Tshabalala stated that the performance reflected the institution’s strategic positioning across Africa’s financial landscape. He noted that the bank had met or exceeded its financial targets set several years earlier, attributing this to operational discipline and the continued expansion of the group’s diversified franchise.
The bank’s geographic diversification remains central to its business model. Operations in South Africa generated headline earnings of R24.9 billion, while the Africa Regions segment contributed R19.7 billion, representing approximately 40 percent of total group earnings. Offshore operations generated R3.1 billion and the bank’s 40 percent shareholding in ICBC Standard Bank contributed R1.5 billion. Key contributors within the Africa Regions portfolio included Angola, Ghana, Kenya, Mauritius, Nigeria, Tanzania, Uganda and Zambia.
Across its business units, the Corporate and Investment Banking division recorded an 18 percent increase in headline earnings and achieved a return on equity above 22 percent. Personal and Private Banking reported a 3 percent increase in earnings and a return on equity above 23 percent. Insurance and Asset Management recorded the fastest growth, with headline earnings rising by 26 percent and returns exceeding 22 percent. Business and Commercial Banking recorded a slight decline in headline earnings of around 4 percent while maintaining a return on equity above 38 percent.
The group also highlighted the continued growth of digital banking services in South Africa. Digital retail clients increased by 9 percent during the year while successful digital transactions rose by 5 percent. Approximately 67 percent of transactional retail clients now conduct their banking digitally, reflecting a broader shift in consumer engagement with financial services across the region.
Sustainability financing also formed part of the bank’s strategic priorities. In 2025 the group mobilised R100 billion in sustainable finance, contributing to a cumulative total of more than R277 billion since 2022. Standard Bank has consequently revised its target, aiming to mobilise R450 billion in sustainable finance by 2028. Further details are available through the bank’s official disclosures on the Standard Bank Group website and financial reporting platforms such as Moneyweb, which published the group’s full financial results.
The expansion of assets under administration and management also contributed to the group’s performance. These assets increased by 15 percent to R1.8 trillion, supported by positive investment market movements and continued market development across African operations.
Looking ahead, the bank’s outlook reflects cautious optimism. Global economic growth is projected to remain moderate, with the International Monetary Fund forecasting global GDP growth of approximately 3.3 percent in 2026 and 3.2 percent in 2027. Inflation is expected to decline gradually over the same period. In sub Saharan Africa, growth is expected to strengthen from about 4.4 percent in 2025 to around 4.6 percent in the following two years as macroeconomic reforms and stabilisation efforts gain traction.
In South Africa, the bank’s internal research division expects inflation to average approximately 3.6 percent in 2026 and 3.3 percent in 2027. Interest rates are expected to decline by a cumulative 75 basis points over the period, while real GDP growth is forecast at 1.5 percent in 2026 before improving modestly to 1.8 percent in 2027. These projections align with broader assessments of the country’s economic trajectory reported by international financial institutions.
Despite these positive projections, the bank acknowledged that geopolitical developments could affect economic conditions. In particular, tensions in the Middle East and evolving global trade dynamics remain potential sources of uncertainty that could influence inflation, trade flows and growth.
For the year ending December 2026, Standard Bank expects banking revenue growth to remain within the mid to high single digit range, supported by continued business momentum and economic activity across its operating markets. The cost to income ratio is expected to decline slightly as the bank maintains cost discipline while continuing to invest in its franchise. The credit loss ratio may increase moderately but is expected to remain within the lower half of the bank’s through cycle target range of 70 to 100 basis points. Return on equity is expected to improve relative to 2025 levels.
The group has also reaffirmed its medium term targets for the period leading to 2028. These include compound annual growth in headline earnings per share of between 8 percent and 12 percent and maintaining return on equity within a range of 18 percent to 22 percent.
Beyond financial metrics, the bank reported continued recognition in global corporate rankings. Brand Finance again ranked Standard Bank as Africa’s most valuable banking brand, marking the fifth consecutive year of the accolade. The group was also listed among the World’s Best Employers by Forbes and included in global corporate rankings compiled by TIME Magazine and Newsweek.
The bank will present further strategic detail during its Capital Markets Day scheduled for 26 March 2026. Additional analysis of the results has been reported by international outlets including Reuters and regional business publications such as Business Day, which highlighted the role of diversified African operations in supporting the group’s earnings trajectory.
Within a broader African context, the bank’s performance illustrates the continuing evolution of financial institutions that operate across multiple African economies. As digital adoption expands and regional markets deepen, banks with diversified continental footprints increasingly occupy a strategic position in facilitating trade, investment and financial inclusion across the continent.
