To view the PDF file, sign up for a MySharenet subscription.

SBK - Standard Bank Group Limited - Financial Information Provided To

Release Date: 22/10/2009 08:00
Code(s): SBK
Wrap Text

SBK - Standard Bank Group Limited - Financial Information Provided To Industrial and Commercial Bank of China Limited ("ICBC") Standard Bank Group Limited (Incorporated in the Republic of South Africa) (Registration number 1969/017128/06) South African Share Code: SBK Namibian Share Code: SNB ISIN: ZAE000109815 ("Standard Bank Group" or "the group") Financial Information Provided To Industrial and Commercial Bank of China Limited ("ICBC") Introduction Consequent upon ICBC`s 20% shareholding in Standard Bank Group, the group is required to disclose to ICBC sufficient information to enable ICBC to equity account the group`s results on a quarterly basis. The following consolidated financial information, prepared on an International Financial Reporting Standards (IFRS) basis, has been disclosed to ICBC for purposes of ICBC`s equity accounting of the group`s results for the period ended 30 September 2009. Statement of changes in Standard Bank Group`s ordinary shareholders` equity for the period ended 30 September 2009 Rm Opening Earnings Other Total balance attributable movements 1 January to ordinary for the
2009 shareholders period Ordinary share capital 153 3 156 Ordinary share premium 16 844 149 16 993 Foreign currency reserves 6 970 (6 578) 392 Translation reserve 5 288 **(6 591) (1 303) Cash flow hedging reserve 1 682 13 1 695 Retained earnings 59 693 *7 217 ***(2 621) 64 289 Empowerment reserve and (3 411) (4) (3 415) treasury shares Other 1 704 381 2 085 Total ordinary shareholders` 81 953 7 217 (8 670) 80 500 equity Notes * Earnings attributable to ordinary shareholders on an IFRS basis are R7 217 million and on a normalised basis for the nine months to 30 September 2009 amounted to R8 031 million. Normalised results include adjustments to account for two accounting anomalies, the IFRS treatment of the Black Economic Empowerment initiative and shares held for the benefit of Liberty policyholders. ** The negative amount in the foreign currency translation reserve is due to the South African Rand strengthening against the USD, Euro, GBP and all major African currencies. ***Comprises mainly the cash dividends paid in April 2009 and September 2009. The information contained in this announcement has not been reviewed by or reported on by the group`s auditors. Johannesburg 22 October 2009 Independent sponsor Deutsche Securities (SA) (Proprietary) Limited Sponsor Standard Bank Date: 22/10/2009 08:00:22 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

Share This Story