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Tue 11 Aug 2026
Close: 29 094c 
Day's move: -426c (-1.44%)
Volume: 1 956 646
Trades: 13 286
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Interest and similar income came to R62.2 billion (R62.0 billion) and net interest income increased to R22.0 billion (R21.2 billion). Total net income went up to R33.8 billion (R33.2 billion). Profit attributable to ordinary shareholders grew to R8.4 billion (R7.3 billion). Additionally, headline earnings per share increased to 1 841 cents per share (1 800 cents per share).
Interim dividend declaration
Notice is given that an interim dividend of 1 052 cents per ordinary share has been declared, payable to shareholders for the 6 months ended 30 June 2026. The dividend has been declared from income reserves.
Looking forward
Looking forward, SA GDP growth is expected to improve modestly to around 1.3% in 2026 and 1.4% in 2027, supported by resilient consumer spending but constrained by weak business confidence, subdued fixed investment and global energy price risks. Inflation is expected to average around 4.0% in 2026, remaining above SARB's 3% target but within its tolerance band, and the prime lending rate is expected to increase by a further 25 bps in September 2026 before declining in 2027. Banking conditions should improve gradually, with credit growth projected to remain positive and end the year at around 7%, although risks remain tilted to the downside.
We expect the underlying growth momentum across all our businesses to continue in H2 2026, supporting an improvement in HE growth from the flat outcome reported in the first half. ROE is expected to remain above 15% in 2026, heading towards 2025 levels. In the medium term, we remain focused on delivering an ROE of around 17% in 2028, underpinned by stronger revenue growth and continued operational efficiency gains.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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