The international division of Standard Bank, Wealth International – headquartered in Jersey, with offices also in the Isle of Man, Mauritius, London and South Africa – has reported a positive set of results for the first half of 2017.
• Headline earnings, the primary measure of earnings after tax and other adjustments, rose from £14.1 million to £19.4 million.
• Return on equity increased from 15.3 per cent to 17.6 per cent compared with the previous year.
• Client deposits increased by 17.8 per cent to £4.9bn.
• Assets under management rose by 29.1 per cent to £2.4bn.
Standard Bank Wealth International, which this year celebrates its 25th anniversary in Jersey, is 100 per cent owned by Standard Bank Group, the largest bank in Africa by assets.
At group level, headline earnings were R12.1bn, up 12 per cent on the first half of 2016. Dividend per share increased by 18 per cent, cost-to-income ratio was 56.3 per cent (up from 56.8 per cent) and ROE was 16.1 per cent (up from 14.4 per cent).