March 8, 2018 / 6:29 AM / 2 years ago

South Africa's Standard Bank FY profit up 14 percent

JOHANNESBURG, March 8 (Reuters) - South African lender Standard Bank on Thursday reported a 14 percent rise in full-year profit as relatively higher commodity prices boosted its operations elsewhere in the continent.

Diluted headline EPS, the main profit measure in South Africa that strips out one-off items, came in at 1,620 cents in the year ended December, compared with 1,421 cents a year earlier.

Standard Bank said its operations elsewhere in Africa, including in oil-rich Angola and Nigeria, delivered a robust performance while its home market suffered as a weak economy hit both consumption and investment spending. (Reporting by Tiisetso Motsoeneng; Editing by Vyas Mohan)

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