* Standard sees FY Headline EPS up 18-22 pct
* FirstRand expects 24-28 pct H1 growth
* Both stocks have outpaced blue-chip index this year
(Adds FirstRand)
JOHANNESBURG, Feb 23 (Reuters) – South Africa’s top
two lenders said on Thursday they expected profits to rise by
around 20 percent, the latest sign banks in Africa’s largest
economy are back on the road to recovery after a 2009 recession
suppressed credit demand.
Standard Bank Group Ltd, Africa’s biggest lender by
assets, said its full-year diluted headline earnings per share
likely grew by between 18 and 22 percent, in line with the 19.5
percent average increase in a survey of 13 analysts by Reuters.
Smaller rival FirstRand said its diluted normalised
EPS grew by 24-28 percent in the six-month period to
end-December.
Headline and normalised EPS, earnings measures commonly used
in South Africa, exclude certain one-time items.
Johannesburg-based Standard Bank, which is 20 percent owned
by Industrial and Commercial Bank of China, will
report its results on March 8. FirstRand’s announcement is
scheduled for Feb. 28.
Continued…
