Standard Bank Reports Record $1.61B H1 Profit as South Africa Switches to ZARONIA

Standard Bank has reported a record $1.61 billion net profit for the first half of 2026 alongside results that highlight the group's historic transition from JIBAR to the ZARONIA interest rate benchmark. The JIBAR-to-ZARONIA switch represents a structural change in South Africa's financial benchmarks affecting all rand-denominated debt and derivatives markets.