Economic recovery depends on robust rule of law, says Standard Bank CEO

Sim Tshabalala says reinforcing the rule of law will be one of the fastest ways to restore investor confidence

Sim Tshabalala, the Standard Bank CEO. Picture: FREDDY MAVUNDA

Standard Bank's delivered a lacklustre year-end performance. Business Day TV unpacked the numbers with the CEO Sim Tshabalala. These include improvements at Eskom, more independent power commissioned and coming on line, sorting out SAA, increased spectrum being allocated, and a functioning National Prosecuting Authority .

Standard Bank SA lifted headline earnings by 4% to R16.7bn, the Africa Regions increased by 5% to R8.4bn, while Standard Bank Wealth International delivered earnings growth of 25% to R1.25bn. This meant that the group only advanced headline earnings per share by 1% to R17.66, while the dividend grew by 2% to R9.94 per share.

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