SBK · JSE · Banking
Standard Bank Group Limited is one of Africa’s largest financial services companies, headquartered in South Africa and operating across banking, wealth management, insurance, investment services, and corporate finance.
Current price
30,179.00c
▲ +456.00c (1.53%) today
ET&A View
Last reviewed 17 September 2026
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Standard Bank is one of the strongest banking franchises in Africa, combining a dominant South African position with a broad continental network across retail and commercial banking, corporate and investment banking, insurance…
Business Health
Is the business financially healthy?
Yes — healthy
Earnings and profitability stand out.
Overall
Revenue
R185.7bn · ↑ +7% last year
Earnings
R51.5bn · ↑ +12% last year
Profitability
Earns 19% a year on shareholders' money
Capital strength
Its cushion against losses
Dividend
6.1% yield · Pays out 54% of earnings · covered 1.9×
Investor View
Open a section for the detail behind the quick view.
Standard Bank is one of the strongest banking franchises in Africa, combining a dominant South African position with a broad continental network across retail and commercial banking, corporate and investment banking,…
The complete ET&A view
See our full reasoning, what could drive the shares higher or go wrong, our Fair Value and Preferred Entry, and how our view has changed.
Reported annual results, newest first · Market data. “Growth” is the change in sales on the year before.
| Year | Revenue | Growth | Operating margin | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| FY2025 | R202.1bn | +6.7% | — | R51.2bn | R29.88 | R37.0bn |
| FY2024 | R189.5bn | −0.0% | — | R45.8bn | R26.18 | R54.5bn |
| FY2023 | R189.6bn | +21.2% | — | R46.0bn | R26.35 | R62.7bn |
| FY2022 | R156.4bn | — | — | R35.2bn | R20.59 | R60.5bn |
Long-term investors who want growth and income
Also suits: Investors who want a mix of growth and stability
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Compare Standard Bank Group Ltd with any company → The model’s own peer calculations are in the Research View.
Standard Bank Group Limited is one of Africa’s largest financial services companies, headquartered in South Africa and operating across banking, wealth management, insurance, investment services, and corporate finance. The group serves individuals, businesses, institutions, and governments across numerous African markets, with particularly strong positions in South Africa and several major economies across sub-Saharan Africa. Its operations span personal and private banking, business and commercial banking, corporate and investment banking, asset management, and digital financial services.
Standard Bank’s strength comes from its scale, extensive African footprint, deep corporate relationships, and strong exposure to the continent’s long-term economic development. The group sits at the centre of several structural themes including rising financial inclusion, infrastructure investment, trade finance, urbanisation, digital banking, and the expansion of Africa’s middle class and formal business sector. Its diversified geographic presence gives it access to faster-growing African economies, while its corporate and investment banking franchise provides exposure to major infrastructure, energy, mining, and cross-border transactions. Although earnings remain sensitive to credit conditions, currencies, interest rates, and political risk, Standard Bank remains one of the most important financial institutions positioned to benefit from Africa’s long-term economic growth.
Banking · South Africa
For detailed analysis. Each section opens on its own.
As of 13 October 2026
Standard ways of comparing the share price with the company’s earnings, sales and cash. Tap the “i” for what each one means.
| Measure | Today | Source |
|---|---|---|
| P/E | Members | |
| Forward P/E | Members | |
| EV/EBITDA | Members | |
| Price/Sales | Members | |
| FCF Yield | Members |
Valuation ratios are part of ET&A membership.
Other published measures
Use the 5Y and Max ranges on the price chart at the top of the page.
Forecasts are market consensus or calculated from forward EPS — not ET&A estimates, and they can be wrong.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →The ET&A View combines our assessment of the business with where today’s price sits against our Preferred Entry and Fair Value. It is a considered judgement, not a mechanical score.
ET&A Score: ET&A's overall assessment of business quality, valuation, growth and risk, out of 10. It weighs business quality, financial strength, growth, valuation, risk, future prospects.
Powered by the ET&A Company Assessment FrameworkSee the full framework →
The automatic, rules-based scores that feed our research. The ET&A Score blends these with our own analysis of the business and its value. How the framework works →
Thin margins · Strong balance sheet · Neutral
Context — not part of the score
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
Based on the factors that could be measured (45% of the model).
Each area is scored from 0 to 10 on ET&A’s methodology scales — the same ones our research uses — then given a word: Excellent from 8.5, Strong from 7, Good from 5.5, Average from 4.5, Below Average from 3, Weak below 3. The overall answer is the average of the areas we could rate (at least three); the dividend isn’t part of it.
| Area | Based on | Score | Rating |
|---|---|---|---|
| Revenue |
Rated on 3-year average revenue growth, on ET&A's growth scale. | 6.7 / 10 | Good |
| Earnings |
Rated on 3-year average earnings growth, on ET&A's growth scale. | 7.7 / 10 | Strong |
| Profitability |
For banks and insurers ET&A judges profitability on return on equity (and cost ÷ income where known), not sales margins. | 9.1 / 10 | Excellent |
| Capital strength | Needs equity and total assets to rate. For banks ET&A measures capital as equity ÷ assets, on its bank capital scale. | — | Not rated |
| Dividend |
Dividend yield on ET&A's income scale. Not part of the overall health rating. | 8.7 / 10 | Excellent |
| Overall | Average of the 3 rated areas | 7.8 / 10 | Strong |
Where each band starts on the scales above. They are fixed and identical for every company we cover; they come straight from ET&A’s methodology, so a company is judged the same way here as in our research.
| Measure | Excellent | Strong | Good | Average | Below Average | Weak |
|---|---|---|---|---|---|---|
| GrowthStructural Growth (Fundamental Conviction) | 18%+ | 10%+ | 5.0%+ | 1.7%+ | −2.5%+ | below −2.5% |
| Operating marginCompetitive Position (Fundamental Conviction) | 29%+ | 20%+ | 13%+ | 7.5%+ | 0%+ | below 0% (loss) |
| Net marginEarnings Durability (Fundamental Conviction) | 23%+ | 15%+ | 9.8%+ | 6.0%+ | 0%+ | below 0% (loss) |
| Free-cash-flow marginCapital Allocation (Fundamental Conviction) | 15%+ | 8.5%+ | 3.8%+ | 1.3%+ | −2.5%+ | below −2.5% |
| Net debt ÷ EBITDAStructural Risk (Fundamental Conviction) | net cash | ≤ 1.5× | ≤ 2.8× | ≤ 3.6× | ≤ 5.0× | above 5.0× |
| Return on equity (banks & insurers)Bank and insurer quality | 16%+ | 12%+ | 9.0%+ | 6.7%+ | 2.7%+ | below 2.7% |
| Equity ÷ assetsBank capital | 7.5%+ | 6.0%+ | 4.7%+ | 4.0%+ | any | — |
| Dividend yieldIncome factor (ET&A Quant Score) | 5.8%+ | 4.0%+ | 2.5%+ | 1.8%+ | 1.0%+ | below 1.0% |
Band floors: Excellent 8.5 · Strong 7 · Good 5.5 · Average 4.5 · Below Average 3 (scores out of 10). Utilities and property companies’ structural debt is scored 6.5, as in ET&A’s risk model.
No research notes have been published for Standard Bank Group Ltd yet.
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