Standard Bank Group Balance Sheet Health
Financial Health criteria checks 4/6
Standard Bank Group has total assets of ZAR3,620.9B and total equity of ZAR312.4B. Total deposits are ZAR2,365.5B, and total loans are ZAR1,725.7B.
Key information
11.6x
Asset to equity ratio
n/a
Net interest margin
| Total deposits | R2.37t |
| Loan to deposit ratio | Appropriate |
| Bad loans | 5.7% |
| Allowance for bad loans | Low |
| Current ratio | Low |
| Cash & equivalents | R648.07b |
Recent financial health updates
No updates
Recent updates
Narrative Update • Apr 22
SBK: Future Dividend And Stable Earnings Will Underpin Fairly Valued Outlook
Analysts have adjusted their price target for Standard Bank Group slightly higher to ZAR337.10 from ZAR333.77, reflecting small refinements to fair value estimates, discount rate assumptions and the expected future P/E multiple. What's in the News The board has declared final gross cash dividend No. 112 of 878.00 cents per ordinary share to shareholders on the register at close of business on 17 April 2026 (company announcement).Narrative Update • Apr 05
SBK: Cautious Downgrade Will Still Rely On Dividend Support
Analysts have lifted their implied fair value for Standard Bank Group from ZAR321.45 to ZAR333.77, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E, even as some recent research has taken a more cautious stance on the shares. Analyst Commentary Bullish Takeaways Bullish analysts point to the revised implied fair value of ZAR333.77 as support for a view that the shares are more aligned with their updated assumptions on discount rates and future P/E, rather than being materially stretched.Narrative Update • Mar 22
SBK: Cautious Downgrade Will Still Rely On Dividend Support Through 2028
Analysts have raised their price target for Standard Bank Group from ZAR307.41 to ZAR321.45, citing updated views on revenue growth, profit margins and future P/E assumptions, even as some recent research has turned more cautious on the shares. Analyst Commentary Bullish Takeaways Bullish analysts point to the raised price target to ZAR321.45 as a sign that updated assumptions on revenue and profit margins still support room for upside against current trading levels.Narrative Update • Mar 07
SBK: Cautious Downgrade Will Still Support Steady ROE Through 2028
Analysts have trimmed their price target for Standard Bank Group to ZAR307.41. This reflects a slightly lower discount rate and a marginally revised forward P/E outlook following more cautious sector commentary and a downgrade from Investec.Narrative Update • Feb 20
SBK: Mixed Rating Shift Will Support Steady ROE Within 2028 Targets
The analyst price target for Standard Bank Group has shifted slightly higher, from ZAR301.52 to ZAR307.41. Analysts point to updated assumptions on fair value, discount rate, profit margin and future P/E, even as some firms, such as Investec, have taken a more cautious stance on the shares.Narrative Update • Feb 06
SBK: Easing Macro Turn And Mixed Views Will Support Steady ROE
Narrative Update Analysts have nudged their price target for Standard Bank Group slightly higher to ZAR 301.52 from ZAR 299.63, reflecting updated views on fair value, discount rates and forward P/E assumptions in the context of recent research commentary, including a downgrade from Investec and a Neutral initiation with a ZAR 272 target from Goldman Sachs. Analyst Commentary Recent research gives you a mixed but useful read on how the market is thinking about Standard Bank Group right now, with some highlighting scope for value at current levels and others flagging execution and macro risks that could cap upside.Narrative Update • Jan 23
SBK: Easing Macro Turn And Mixed Ratings Will Support Steady Returns
Analysts have lifted their fair value estimate for Standard Bank Group to about ZAR 300 from roughly ZAR 293, reflecting updated assumptions on revenue growth and P/E multiples, even as recent research has turned more cautious and new coverage has come in at Neutral with a ZAR 272 price target. Analyst Commentary Recent research on Standard Bank Group sends a mixed message, with some analysts pointing to a more balanced risk and reward profile while others are getting more cautious on execution and valuation.Narrative Update • Jan 09
SBK: Easing Macro Backdrop Will Support Steady Returns With Balanced Near-Term Expectations
Analysts have kept their fair value estimate for Standard Bank Group broadly unchanged at about ZAR 292.74 per share, with a slightly lower discount rate and similar revenue growth, profit margin and forward P/E assumptions. This reflects recent coverage that highlights an easing macro backdrop and a more supportive near term growth outlook for South African banks.Narrative Update • Dec 22
SBK: Easing Macro Shift Will Support Stable Returns With Neutral Near-Term Upside
Analysts have nudged their fair value estimate for Standard Bank Group higher to approximately ZAR 293 from about ZAR 288, reflecting slightly stronger expected revenue growth and valuation multiples as macro headwinds ease and the near term outlook improves. Analyst Commentary Recent coverage of Standard Bank Group highlights a balanced mix of optimism and caution, with the initiation of coverage at a neutral rating and a price target slightly below current fair value estimates reinforcing a measured stance on the stock.Narrative Update • Dec 07
SBK: Easing Macro Headwinds Will Support Stable Returns And Fair Value Ahead
Analysts have nudged their fair value estimate for Standard Bank Group higher, lifting the price target from ZAR 285.39 to about ZAR 288.06 as easing macro headwinds and an improving near term growth outlook support slightly stronger revenue growth assumptions, despite modestly lower margin expectations. Analyst Commentary Bullish analysts point to a healthier macro backdrop for South African banks and a more supportive growth outlook as key reasons the fair value estimate for Standard Bank Group can drift higher, even without a material re-rating of the sector.Narrative Update • Nov 23
SBK: Resilience Amid Headwinds Will Support Fair Value Performance Ahead
Analysts have raised their price target for Standard Bank Group from ZAR 279.32 to ZAR 285.39, citing improved revenue growth projections and a more robust near-term outlook for South African banks. Analyst Commentary Recent coverage and price target adjustments reflect analysts' evolving perspectives on Standard Bank Group, especially as the South African banking market encounters a period of change.Analysis Article • Nov 12
Should You Be Adding Standard Bank Group (JSE:SBK) To Your Watchlist Today?
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Narrative Update • Nov 08
SBK: Future Performance Will Balance Efficiency Gains With Economic Headwinds
Narrative Update on Standard Bank Group Analysts have reaffirmed their price target for Standard Bank Group at R279.32 per share, citing stable revenue growth and ongoing improvements in profitability as justification for maintaining their valuation outlook. Analyst Commentary Market observers have weighed current performance indicators and strategic execution when evaluating Standard Bank Group's outlook.Narrative Update • Oct 25
Digital Expansion And Disciplined Execution Will Drive Resilience Amid Market Headwinds
Analysts have modestly increased their price target for Standard Bank Group, citing ongoing resilience in profit margins and stable revenue growth. The new target reflects a minor adjustment in expectations to R279.32 per share.Narrative Update • Oct 11
Digital Expansion And African Markets Will Unlock New Opportunities
Standard Bank Group's analyst price target has been increased from R274.45 to R279.32. Analysts cite slightly higher revenue growth expectations and a modest adjustment in discount rates to support the updated valuation.Narrative Update • Sep 04
Digital Expansion And African Markets Will Unlock New Opportunities
With both revenue growth forecasts and future P/E estimates unchanged, analysts have maintained their fair value estimate for Standard Bank Group at ZAR274.45. Valuation Changes Summary of Valuation Changes for Standard Bank Group The Consensus Analyst Price Target remained effectively unchanged, at ZAR274.45.Analysis Article • Sep 03
Standard Bank Group (JSE:SBK) Will Pay A Larger Dividend Than Last Year At ZAR8.17
The board of Standard Bank Group Limited ( JSE:SBK ) has announced that it will be paying its dividend of ZAR8.17 on...
New Narrative • Mar 16
The Group's Expansion Into African Markets Will Strengthen Future Performance
Strategic focus on African expansion and private banking offers potential for revenue growth through capturing regional market opportunities.Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: SBK's Assets to Equity ratio (11.6x) is moderate.
Allowance for Bad Loans: SBK has a low allowance for bad loans (64%).
Low Risk Liabilities: 71% of SBK's liabilities are made up of primarily low risk sources of funding.
Loan Level: SBK has an appropriate level of Loans to Assets ratio (48%).
Low Risk Deposits: SBK's Loans to Deposits ratio (73%) is appropriate.
Level of Bad Loans: SBK has a high level of bad loans (5.7%).
Discover healthy companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 11:40 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Standard Bank Group Limited is covered by 18 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ilan Stermer | Anchor Stockbrokers Proprietary Limited |
| Jaap Meijer | Arqaam Capital Research Offshore S.A.L. |
| Adrienne Damant | Avior Capital Markets |