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High rates boost Standard Bank's income - but more clients sign up for debt review

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Standard Bank is witnessing some pockets of consumer strain as interest rates continue to rise. More customers have chosen to go into debt review this year.
Standard Bank is witnessing some pockets of consumer strain as interest rates continue to rise. More customers have chosen to go into debt review this year.
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While Standard Bank's income is growing faster than expected, the bank is starting to see "pockets" of consumer strain following large interest rate hikes.

In a trading update for the 10 months to end October, the group said its total income growth and cost growth are expected to be higher than previously forecast.

Standard Bank said its net interest income grew by "strong" double digits - thanks partly to a 325-basis-points increase in interest rates in South Africa.

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