Figures from a published financial statement by Standard Bank, show a 50% increase in after-tax profit, at  K15.9 billion in the year ended December 2019 from K10.5 billion in 2018.

Looking forward, the bank has expressed optimism to further grow its business. “The group expects macroeconomic stability to continue in 2020 on the back of a normal agricultural season that would lend support to local currency and sustain low and stable inflation and interest rates,” reads the statement.

The bank says it will continue to enhance its digitisation projects to ensure improved customer experience. On the other hand, Standard Bank Plc has announced the launch of BizSure, a new insurance to protect small and medium enterprises (SMEs) from general risks. The bank’s Head of Personal and Business Banking Phillip Madinga made the announcement, outlining that BizSure will help entrepreneurs safeguard their dreams and ambitions in the face of uncertainty as they contribute to a sector that is critical in the country’s economic growth and development.