Table of Contents
Key Points
- Sim Tshabalala to retire as Standard Bank CEO in 2027 after 14 years leading Africa’s largest lender by assets.
- Standard Bank earnings surge, with African operations outside South Africa now contributing 41% of headline profits.
- Bank boosts $24.5 billion sustainable finance pledge, driving Africa’s energy transition and infrastructure growth.
South African banker Sim Tshabalala will retire at the end of 2027 as chief executive of Standard Bank Group, bringing to a close a 14-year tenure leading Africa’s largest lender by assets. The bank confirmed on Thursday that CFO Arno Daehnke will also leave at the same time.
The announcement comes even as the lender raised its executive retirement age from 60 to 63, in line with global corporate practice. The extension will not apply to Tshabalala or Daehnke. Standard Bank Chair Nonkululeko Nyembezi said the decision was guided by the need for “clarity and certainty” in preparing for the next chapter of the group’s leadership.
Standard Bank reports $1.35 billion profit
Tshabalala has led Standard Bank’s growth across the continent, with operations now in 20 African markets. Businesses outside South Africa contribute 41 percent of the group’s headline earnings, with countries such as Angola, Ghana, Kenya, Nigeria, and Uganda recording strong performances. At home, the South African arm has also delivered double-digit earnings growth, supported by increased client activity and improved credit conditions.
For the six months to June 30, 2025, the bank reported an 8 percent rise in headline earnings to R23.78 billion ($1.35 billion) from R22 billion ($1.25 billion) a year earlier, achieving a return on equity of 19.1 percent. Total net income climbed to R94.79 billion ($5.4 billion) from R88.37 billion ($5.03 billion). Standard Bank’s market value now sits at $21 billion. The group has also lifted its sustainable finance goal to $24.5 billion by 2028—an 80 percent increase aimed at supporting Africa’s shift to cleaner energy and broader economic development.
Standard Bank’s cross-border investment role
Standard Bank has been central to financing major infrastructure across the continent. Among its most high-profile roles was leading a consortium to arrange funding for the $5 billion East African Crude Oil Pipeline linking Uganda and Tanzania. Such projects have reinforced its standing as a key facilitator of cross-border investment and regional economic integration.
Tshabalala joined Standard Bank in 2000 and went on to hold senior posts including managing director of Stanbic Africa and CEO of Personal and Business Banking. He became sole group chief executive in 2017 after sharing the role for four years. He also serves as vice-chairman and treasurer of the Institute of International Finance, underscoring his influence beyond the continent.
Earlier this year, he stepped in as interim CEO of Standard Bank South Africa after the sudden resignation of Kenny Fihla, a move that highlighted the bank’s dependence on his steady hand during periods of uncertainty. As the group looks ahead, the planned handover marks an important transition for one of Africa’s most prominent financial institutions—seeking to preserve stability while pursuing growth, deeper regional ties, and long-term sustainability.
