Standard Bank. Picture: MARTIN RHODES
Standard Bank. Picture: MARTIN RHODES

STANDARD Bank on Wednesday announced an expected increase in full-year headline earnings per share (HEPS) of between 20% and 30%.

The bank said the increase was due to the effect of R3.7bn in losses reported during the previous comparable period. The losses related to its outside-Africa discontinued operations.

"Furthermore, there are gains recorded outside of headline earnings in 2015 related to the disposal of the above-mentioned discontinued operation, which gains were not present in the comparable period," the company said.

It said the final effect of all these items on its results would be "fully explained in the group’s results on March 3".

Standard Bank announced the sale of its loss-making London operations to Industrial and Commercial Bank of China in August last year.

At 10.56am Standard Banks’s share price on the JSE was up 1.33% at R110.20.