SA’s major banks deliver sustained growth amidst difficult operating environment

Combined headline earnings up 5.1% since 1H18 (up 8.7% on an annualised basis since FY17), combined ROE of 18.9% (18.8% in 1H18), net interest margin of 4.38% (4.36% in 1H18) and cost-to-income ratio of 56.8% (55.1% in 1H18)

PwC’s Major Banks Analysis presents the highlights of the combined local currency results of Absa, FirstRand, Nedbank and Standard Bank. The analysis identifies common trends shaping the banking industry, building on previous PwC analyses that has now been for a period of over a decade.

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