SGBLY Standard Bank Group Ltd (PK)

By Tapan Panchal

LONDON--Standard Bank Group Ltd. (SBK.JO) said Thursday that it has seen strong growth in net interest income in the first four months of 2016, despite difficult economic conditions in South Africa and several other countries on the African continent.

The South African lender said credit impairment charges rose due to a "challenging environment." Expenses increased more than income, exacerbated by a weak South African rand, but remained within expectations, the bank added.

Standard Bank's tier I capital adequacy ratio, excluding unappropriated profit, stood at 11.9% as at March 31.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

May 26, 2016 03:06 ET (07:06 GMT)

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