South Africa’s Standard Bank Expects Earnings to Be Hurt by Currency Strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
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Should l Buy ?
Source: WSJ
Currency Impact on Performance: Standard Bank Group reported that currency devaluations and the strength of the South African rand affected its performance in local currency, although it remains confident in its full-year guidance.
Earnings Growth: The bank's group headline earnings increased by low-to-mid single digits in rand for the ten months ending October 31, while showing mid-teens growth on a constant currency basis.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
