Africa’s largest bank by assets, Standard Bank Group, delivered a landmark performance in 2025, posting headline earnings of $2.96 billion (R49.2 billion) and a return on equity of 19.3%, at the top end of its target range, according to results published on Thursday.
Total assets expanded to $216.5 billion (R3.6 trillion) from $196.0 billion (R3.26 trillion) a year earlier, reflecting robust balance sheet growth across both domestic and regional operations.
The financial outcome marked the culmination of a strategy launched in 2021, according to CEO Sim Tshabalala. “2025 marked a significant milestone as we achieved or surpassed the ambitious financial targets we set four years ago, confirming our capacity for disciplined execution,” he said. “Put simply, we keep our promises and we meet our targets.”
Regional operations and business units drive growth
Standard Bank’s Africa Regions franchise was a key driver, contributing 40% of headline earnings. Markets including Angola, Ghana, Kenya, Mauritius, Nigeria, Tanzania, Uganda, and Zambia collectively generated $1.18 billion (R19.7 billion). South Africa remained the largest contributor with $1.50 billion (R24.9 billion), offshore units added $186 million (R3.1 billion), while the group’s 40% stake in ICBC Standard Bank Plc contributed $90 million (R1.5 billion).
At the business level, Corporate and Investment Banking saw headline earnings rise 18% with ROE above 22%, while Insurance and Asset Management grew fastest, posting 26% gains and similar ROE. Personal and Private Banking delivered steady growth of 3% with ROE over 23%, and Business and Commercial Banking, despite a 4% earnings dip, maintained ROE above 38%.
Tangible evidence of digital adoption was also notable, with 67% of transactional clients now banking digitally, driven by a 9% increase in digital retail clients and a 5% rise in successful digital transactions.
Earnings momentum anchored on disciplined costs
Standard Bank strengthened its sustainable finance footprint, mobilising $6.01 billion (R100 billion) in 2025 alone and over $16.66 billion (R277 billion) since 2022. The bank increased its target to $27.07 billion (R450 billion) by 2028, funding projects spanning renewable energy, climate transition, and sustainable development across Africa.
The bank’s cost-to-income ratio improved to 50.2% from 50.5% in 2024, while credit impairment charges declined to $860 million (R14.3 billion) amid stabilising macroeconomic conditions. Headline earnings per share rose 12% to 3,026 cents, with a total dividend of 1,695 cents per share, also up 12%.
Looking ahead, Tshabalala said opportunities remain across the continent, though he warned of intensifying competition from fintechs, evolving regulatory frameworks, and geopolitical risks, particularly in the Middle East. “Africa is our home, we drive her growth,” he said, emphasising the group’s long-term commitment to the continent.
With a diversified franchise, improving efficiency, and a growing digital client base, Standard Bank appears well-positioned to sustain earnings momentum, supporting continued expansion of its balance sheet and profitability in the coming years.
NB:$1 = R16.63 as of March 12, 2026.
