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Standard Bank Group's 1Q Earnings Rose; Warns of Economic Uncertainty


Provided by
Dow Jones
By Adria Calatayud
Standard Bank Group Ltd. said Friday that first-quarter earnings were higher than in the year-earlier period, but warned that the economic environment remains uncertain and that Covid-19 vaccinations have been slower than expected.
The South African lender said earnings attributable to shareholders for the first three months of 2021 were up 20% on year, and that adjustable items weren t material.
Stronger performances by subsidiary Liberty Holdings Ltd. and joint venture ICBC Standard Bank PLC boosted headline earnings, the lender said. In the first quarter of 2020, Liberty was hit by a decline in market valuations due to Covid-19, Standard Bank said. ....

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