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Standard Bank Group
(OTC:SGBLY)
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Rating:71Outperform
Price Target:
$22.00
▲(15.55% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by solid-but-not-smooth financial performance (good profitability/ROE and improved recent cash generation, tempered by operating/cash-flow volatility and higher 2025 leverage). Valuation is supportive with a low P/E and strong dividend yield. The earnings call was broadly positive with reaffirmed guidance, strong capital and improved credit metrics, while technical indicators point to only modest trend strength and largely neutral momentum.
Positive Factors
Profitability and earnings
Strong earnings growth and a near-20% ROE indicate effective use of capital and resilient profitability. Sustained returns support internal capital generation and provide a durable base for dividends and growth investments.
Negative Factors
Margin and funding pressure
Persistent endowment effects, uneven hedging access and regional funding-cost pressure can constrain net interest income. Margin compression reduces earnings conversion even when loan origination activity remains strong.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and earnings
Strong earnings growth and a near-20% ROE indicate effective use of capital and resilient profitability. Sustained returns support internal capital generation and provide a durable base for dividends and growth investments.
Read all positive factors
Standard Bank Group (SGBLY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$32.47B
Dividend Yield5.11%
Average Volume (3M)5.22K
Price to Earnings (P/E)10.0
Beta (1Y)0.71
Revenue Growth20.96%
EPS Growth21.77%
CountryUS
Employees50,451
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)31.06
Shares Outstanding1,646,456,800
10 Day Avg. Volume1,311
30 Day Avg. Volume5,223
Financial Highlights & Ratios
PEG Ratio1.79
Price to Book (P/B)1.76
Price to Sales (P/S)1.57
P/FCF Ratio7.52
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Standard Bank Group Business Overview & Revenue Model
Company Description
Standard Bank Group Limited operates as a prominent financial services provider across Africa and on an international scale. The company offers a comprehensive suite of personal banking solutions, including a variety of account types, from traditi...
How the Company Makes Money
Standard Bank Group makes money primarily by earning interest income and non-interest (fee and trading) income from providing banking and financial services.
1) Net interest income (lending and deposits)
- The group originates loans and credit fa...
Standard Bank Group Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 11, 2027
Earnings Call Sentiment Positive
Overall the call communicated a strongly positive operating and strategic performance: record headline earnings (+10%), improved ROE (19.8%), stronger CET1 (13.6%), continued investment in technology/AI, robust payments scale and improved credit metrics (CLR 73 bps). Management acknowledged and quantified meaningful near-term headwinds — principally currency translation/dilution, endowment-driven NIM pressure (particularly in Africa Regions), some earnings drag in select businesses (BCB, PPB, offshore) and one-off/non-repeat items impacting noninterest revenue. Guidance remains unchanged and management emphasized resilience, capital strength and disciplined capital allocation, indicating confidence in meeting medium-term targets to 2028.Positive Updates
Record Group Headline Earnings and Payouts
Group headline earnings increased 10% to ZAR 26.1 billion; headline earnings per share and dividends per share both up 10%; interim dividend increased 10% to ZAR 9.02 per share (payout ratio ~56%).
Negative Updates
Currency Translation and Rand Dilution
Stronger-than-expected rand had a dilutive impact on reported earnings; management moved expected translation impact to negative ~2%, noting rand earnings growth ~2% slower than constant-currency growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Group Headline Earnings and Payouts
Group headline earnings increased 10% to ZAR 26.1 billion; headline earnings per share and dividends per share both up 10%; interim dividend increased 10% to ZAR 9.02 per share (payout ratio ~56%).
Read all positive updates
Company Guidance
Management reiterated unchanged full‑year 2026 guidance: banking revenue growth in the mid‑ to high‑single digits (NII mid‑single digits; NIR now expected to grow high‑single digits), a credit‑loss ratio anticipated in the bottom half of the 70–100bp through‑the‑cycle range, and a 2026 ROE expected to be higher than 2025’s (19.8% in H1) as the group targets an 18–22% medium‑term range. Their weighted 2026 macro assumptions are GDP 2.3%, inflation 5.3% and interest rates 7.9%; a stronger rand moved the expected currency translation headwind from –1% to –2% (i.e., rand earnings ~2% below constant‑currency). Capital remains strong (CET1 13.6%; ZAR185bn backing RWA, ZAR58bn buffer, ZAR21bn available), and distributions were maintained (interim dividend +10% to ZAR9.02/sh, 56% payout).Standard Bank Group Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
70
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 233.96B | 302.45B | 189.47B | 161.36B | 134.69B | 122.87B |
| Gross Profit | 228.07B | 241.30B | 189.47B | 189.56B | 134.69B | 122.87B |
| EBITDA | 85.76B | 78.90B | 74.69B | 73.67B | 58.08B | 45.49B |
| Net Income | 52.36B | 47.43B | 45.82B | 45.97B | 35.24B | 25.69B |
Balance Sheet | ||||||
| Total Assets | 3.78T | 3.62T | 3.27T | 3.07T | 2.88T | 2.73T |
| Cash, Cash Equivalents and Short-Term Investments | 195.80B | 753.60B | 116.69B | 46.54B | 114.48B | 95.11B |
| Total Debt | 323.61B | 144.08B | 26.56B | 21.65B | 129.23B | 144.66B |
| Total Liabilities | 3.49T | 3.31T | 2.98T | 2.79T | 2.62T | 2.48T |
| Stockholders Equity | 269.41B | 269.40B | 274.38B | 260.61B | 238.93B | 214.88B |
Cash Flow | ||||||
| Free Cash Flow | 62.18B | 63.24B | 54.48B | -79.06B | 60.45B | 7.94B |
| Operating Cash Flow | 66.68B | 67.62B | 59.35B | -73.54B | 65.29B | 12.89B |
| Investing Cash Flow | -282.80B | -4.55B | -4.14B | -6.05B | -4.60B | -4.67B |
| Financing Cash Flow | 228.13B | -29.92B | -32.76B | -26.80B | -21.25B | -9.35B |
Standard Bank Group Technical Analysis
Positive
19.04
Price Trends
19.77
Positive
19.38
Positive
18.35
Positive
Market Momentum
0.06
Positive
53.62
Neutral
64.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SGBLY, the sentiment is Positive. The current price of 19.04 is below the 20-day moving average (MA) of 20.03, below the 50-day MA of 19.77, and above the 200-day MA of 18.35, indicating a bullish trend. The MACD of 0.06 indicates Positive momentum. The RSI at 53.62 is Neutral, neither overbought nor oversold. The STOCH value of 64.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SGBLY.
Standard Bank Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $35.65B | 9.75 | 9.20% | 2.62% | 5.37% | 14.38% | |
74 Outperform | $23.57B | 12.73 | 10.12% | 3.62% | 18.47% | ― | |
73 Outperform | $30.43B | 13.52 | 19.58% | 3.77% | 23.90% | 27.55% | |
73 Outperform | $29.69B | 15.13 | 8.14% | 2.50% | 1.24% | 40.55% | |
71 Outperform | $32.47B | 9.97 | 18.49% | 5.31% | 20.96% | 21.77% | |
71 Outperform | $26.15B | 12.26 | 11.79% | 3.43% | 0.26% | 14.72% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
SGBLY
Standard Bank Group
19.80
6.25
46.11%
BAP
Credicorp
373.20
128.83
52.72%
KEY
KeyCorp
22.02
3.46
18.62%
RF
Regions Financial
30.40
4.12
15.69%
SHG
Shinhan Financial Group Co
77.97
29.93
62.30%
CFG
Citizens Financial
70.18
19.54
38.60%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.