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STANBIC - COMMENT AT ANNUAL GENERAL MEETING, 23 MAY 2001

Release Date: 24/05/2001 07:50
Code(s): SBK
Wrap Text
Standard Bank Investment Corporation Limited
(Stanbic)
Comment at Annual General Meeting, 23 May 2001

In response to a question from a shareholder, chief Executive Jacko Maree, made the following points on the performance of the group since the year end - It had been an encouraging start to the 2001 year;
- Domestic operations had performed in line with expectations . SCMB had traded well and Retail had experienced signs of a pick-up in demand for loans and advances. Costs were also in line with expectations;
- Internationally the situation was mixed, with London a little behind budget but Stanbic Africa continuing to do well;
- No new large problem loans had emerged in recent times

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