Standard Bank sees H1 earnings climbing

After two sales.

Standard Bank Group, Africa’s biggest lender by assets, said first-half earnings per share excluding one-time items may rise as much as 32% for the six months ended June.

During the period Standard Bank sold a stake in its London- based global markets business to its shareholder, the Indistrial & Commerical Bank of China, and sold its entire interest in Brazil’s Banco Standard de Investimentos S.A., the lender said in a statement Tuesday. Following a dispute over aluminum holdings in a warehouse in China, Standard Bank also realized a partial recovery in insurance claims relating to the fraud in China’s Qingdao port, the lender said.

Standard Bank is due to report first-half earning on August 14.

©2015 Bloomberg News

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