South African banker Ben Kruger, the former chief executive officer of Standard Bank, has seen the market value of his stake in Africa’s biggest bank in terms of assets climb above $4 million after a steady rise in the lender’s share price this year. The gain further strengthens his standing among South Africa’s wealthy individual investors on the Johannesburg Stock Exchange (JSE).

Data tracked by Shore.Africa show that Kruger, who served as Standard Bank’s joint group chief executive alongside Sim Tshabalala from March 2013 until September 2017 before stepping down as CEO and remaining an executive director, owns 200,000 ordinary shares in the banking group. While the holding represents only a small stake in the lender, the strong performance of Standard Bank’s shares has added significantly to its value.

Kruger’s Standard Bank stake tops $4 million on rally

Since the beginning of the year, the market value of Kruger’s holding has increased by R6.78 million, rising from R58.1 million on Jan. 1 to R64.9 million at the time of writing. Measured in U.S. dollars, the investment has grown by about $503,000, climbing from $3.49 million to more than $4 million. The increase reflects both the rise in Standard Bank’s share price on the JSE and a stronger South African rand against the U.S. dollar.

The latest gain adds to the wealth of a banker whose career has been closely tied to Standard Bank for four decades. Kruger joined the lender in 1985 and went on to hold several senior leadership positions, including chief executive of Corporate and Investment Banking, group chief operating officer and joint group chief executive.

Beyond Standard Bank, he previously served as non-executive chairman of ICBC Standard Bank Plc and Stanbic IBTC Bank Plc. He is now executive chairman of Ruby Rock Investments Proprietary Limited, lead independent director of Aspen Pharmacare Holdings Limited, a non-executive director of JSE Limited, and chairman of the council of the University of Pretoria.

Kruger’s investment has benefited from a strong year for Standard Bank shareholders. Since Jan. 1, the lender’s shares have risen 11.67 percent, increasing from R290.4 ($17.50) to R324.29 ($20). The rally has lifted Standard Bank’s market cap to R534 billion ($32.95 billion), keeping it among Africa’s most valuable listed banks, behind Capitec Bank and FirstRand.

Standard Bank deepens African economic impact

Investors have continued to back the lender after another year of earnings growth across its African operations. Standard Bank reported net profit of R56.7 billion ($3.43 billion) for 2025, up from R50.2 billion ($3.04 billion) a year earlier, as higher interest income and continued growth in fee-based businesses supported earnings. Basic earnings per share also increased to R3,019, reflecting another year of solid financial performance.

The stronger profit was supported by broad-based growth across the bank’s operations. Net interest income rose to R194.76 billion ($11.8 billion) from R181.73 billion ($11 billion), while non-insurance revenue climbed to R60.7 billion from R41.8 billion. The results point to a business that continues to generate healthy income from both lending and customer-driven services across its markets.

That performance also strengthened Standard Bank’s balance sheet. Total assets increased to R3.62 trillion ($220 billion), compared with R3.27 trillion ($197.9 billion) a year earlier. Shareholders’ equity rose to R264.2 billion ($16 billion), while retained earnings reached R243.8 billion ($14.71 billion), underscoring the scale of the bank’s operations and its continued financial strength across the continent.