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World Business
By STAFF WRITER Nov. 2, 2023
The Industrial and Commercial Bank of China Limited is the largest shareholder in Stanbic’s South African headquartered parent company, Standard Bank.
Higher ratios suggest that a bank’s operating costs are out of control, while lower ratios indicate that a bank is functioning more profitably.
This comes at a time when the country is struggling to settle public debts in excess of US$19 billion.
In an analysis of the firm’s financial statements for the full year ended March 31, 2022, IH said that downside risks still existed from high financial costs.