Job cuts pay dividends for Standard Bank

The bank's group chief executive Jacko Maree says that there had been a 22% decline in the cost of bad debts, which had fallen to R2,97 billion and operating expenses had also fallen by 2% for the same period.

Business Report says that Standard Bank is aiming to save US$75 million (about R537 million) in annualised operating cost cuts for its international operations.

Read more:

• Business Report: Standard Bank says 11% earnings leap follows cuts
  
• Full Report: Standard Bank Group Limited Unaudited results for the six months ended 30 June 2011