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STANDARD BANK GROUP LIMITED - Financial information provided to ICBC and update on the group's operational performance

Release Date: 19/10/2017 08:00
Code(s): SBK     PDF:  
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Financial information provided to ICBC and update on the group's operational performance

Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
 (“Standard Bank Group” or “the group”)

Financial information provided to Industrial and Commercial Bank of China Limited (“ICBC”) and update
on the group’s operational performance for the nine months ended 30 September 2017.

Financial information provided to ICBC

On a quarterly basis the Standard Bank Group discloses to ICBC sufficient information to enable ICBC to equity
account the group's results. Accordingly, the following consolidated financial information, prepared on an
International Financial Reporting Standards basis, is being provided to ICBC for the nine months ended
30 September 2017.


Statement of changes in ordinary shareholders' equity for the nine months ended 30 September 2017


                                      Balance at              Earnings               Other         Balance at
                                  1 January 2017        attributable to     movements for       30 September
                                                              ordinary          the period              2017
                                                         shareholders

                                                Rm                 Rm                    Rm
                                                                                                           Rm

        Ordinary share capital                  162                                                        162

        Ordinary share
                                           17 798                                        (88)           17 710
        premium
        Foreign currency
        translation and                    (2 356)                                     (570)            (2 926)
        hedging reserves
        Foreign currency
        translation reserve                (1 189)                                     (653)1           (1 842)
        (FCTR)
        Foreign currency net
        investment and cash                (1 167)                                        83            (1 084)
        flow hedging reserve

        Retained earnings                 132 614               19 214              (13 491)2          138 337

        Empowerment reserve
                                               (621)                                   (551)            (1 172)
        and treasury shares

        Other                                  3 160                                   (394)             2 766

        Total ordinary
                                          150 757               19 214              (15 094)           154 877
        shareholders' equity


1   The decrease in the FCTR is primarily as a result of the strengthening of the Rand against the US Dollar
    (R13.48/USD at 30 September 2017 from R13.69/USD at 31 December 2016) and other African currencies.
2   Primarily comprises the ordinary dividends declared in March and August 2017.


Update on the group’s performance for the nine months ended 30 September 2017

The trends seen in the group’s banking activities in the three months to 30 September 2017 were similar to those
reported in the six months to 30 June 2017. Whilst revenues remained under pressure, good cost control
delivered better operational efficiency. Banking activities’ results were supported by a continued benign credit
performance. The relative rand strength continued to dampen reported earnings. Other banking interests
contributed positively to the group’s performance and earnings attributable to ordinary shareholders grew 16%
period-on-period. During the period the headline earnings adjustable items were not significant and as a result
the group’s headline earnings growth was in line with the growth in earnings attributable to Standard Bank Group
ordinary shareholders.

The group’s common equity tier 1 capital ratio remained in excess of our internal target range of 11.0% – 12.5%.
The group’s Basel III disclosure as at 30 September 2017 will be released in November 2017.

The information contained in this announcement and that on which the operational performance update is based
has not been reviewed and reported on by the group's external auditors.

Johannesburg

19 October 2017

Lead sponsor
The Standard Bank of South Africa Limited

Independent sponsor
Deutsche Securities (SA) Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

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