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Standard Bank FY profit up 14%

Diluted headline EPS, the main profit measure in South Africa that strips out one-off items, came in at 1,620 cents in the year ended December.

Standard Bank Fourways Crossing. Picture:www.fourwayscrossing.co.za

JOHANNESBURG - South African lender Standard Bank on Thursday reported a 14% rise in full-year profit as relatively higher commodity prices boosted its operations elsewhere in the continent.

Diluted headline EPS, the main profit measure in South Africa that strips out one-off items, came in at 1,620 cents in the year ended December, compared with 1,421 cents a year earlier.

Standard Bank said its operations elsewhere in Africa, including in oil-rich Angola and Nigeria, delivered a robust performance while its home market suffered as a weak economy hit both consumption and investment spending.

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