Standard Bank : Sees Lower Earnings Per Share for 2020 -- Update

By Anthony O. Goriainoff

Standard Bank Group Ltd. said Wednesday that it expects 2020 earnings per share on both a regular and a headline basis to be lower than in 2019.

Headline earnings per share, which strip out certain exceptional and one-off items, are anticipated to be between 40% to 50% lower, it said.

The South African bank said headline earnings per share for 2020 are expected to be below 2019's 1,766.7 South African cents (118.07 U.S. cents), at between 883.4 South African cents and 1,060.0 South African cents.

The bank said it expects regular earnings per share to be between 45% and 55% below 2019 figures at between 717.1 South African cents and 876.4 South African cents. The company said EPS for 2019 was 1,593.5 South African cents.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

03-03-21 0203ET