The banking sector continues to power ahead on the back of vastly improved local sentiment in the aftermath of the ANC Elective Conference and President Cyril Ramaphosa’s commitment to rooting out corruption and providing a framework for turning around SA INC and removing policy uncertainty.
Standard bank released a strong set of FY2017 results with Headline Earnings Per Share up 14%, FY Dividend per Share up 17%, with credit impairments 1% lower than the previous year and costs well managed.
All of the banking divisions contributed to growth in earning, but the contribution from ICBS (London operations) and Liberty stood out in particular.
Overall, Standard bank is well positioned to capitalise on improved consumer and investor confidence but currency fluctuation and the governments land expropriation without compensation policy, could provide some headwinds.
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Caelim graduated from the Cape Peninsula University of Technology with a NHD: Information Technology in 2002. Armed with an interest in financial markets, coupled with a strong IT background, Caelim embarked in a career at Sharenet in supporting the company’s infrastructure. His passion for trading and anything investment related saw him giving primary support to our Stockbroking partners. In 2016, he moved to the Sharenet Securities trading desk assisting Sharenet Securities clients with trade execution and platform support.