JOHANNESBURG (Reuters) - Africa's largest lender, Standard Bank, expects to spend up to $300 million on expanding its business in four key sub-Saharan markets this year, its deputy chief executive said in an interview on Thursday.
Ben Kruger also told Reuters the bank sees further unwinding of bad debts in its main South African market.
"We will be putting more capital into Kenya and Angola. We might add some more capital into Zambia and Ghana as well," he said following the bank's full-year earnings presentation.
Standard Bank reported a 21 percent increase in full-year headline earnings on Thursday, boosted by a rise in its African business and a decline in bad debts.
Credit impairments decreased 13 percent to to 6.44 billion rand for the year ended December 2011.
That trend is likely to continue this year, Kruger said.
"In South Africa, I think it is sustainable. In fact it is still improving."
Source: http://news.yahoo.com/standard-sees-300-mln-africa-spend-deputy-ceo-113457985.html
tough love tough love patriots jets patriots jets the music man the music man steve smith
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.