- Standard Bank Group Ltd., Africa’s biggest lender by assets, is ready to re-capitalize its Ghanaian unit after making provisions to cover more than half of its holdings in the nation’s debt.
- Ghana has an estimated 576 billion cedis of public debt.
- Standard Bank said it had set aside 1.5 billion rand ($81 million) to cover potential losses arising from the West African nation’s loan-restructuring program.
- Headline earnings surged 37% to a record 34.25 billion rand for the year ending in December.
- Standard Bank declared a final dividend of 6.91 rand per share, a payout ratio of 60%.
Standard Bank May Re-Capitalize Ghana Unit After Debt Provisions
Standard Bank Group Ltd., Africa’s biggest lender by assets, is ready to re-capitalize its Ghanaian unit after making provisions to cover more than half of its holdings in the nation’s debt.
Adelaide Changole
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