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STANDARD BANK GROUP LIMITED - Financial information provided to Industrial and Commercial Bank of China Limited (ICBC)

Release Date: 24/10/2013 08:00
Code(s): SBK     PDF:  
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Financial information provided to Industrial and Commercial Bank of China Limited (“ICBC”)

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
NSX share code: SNB ZAE000109815
SBKP ZAE000038881 (First preference shares)
SBPP ZAE000056339 (Second preference shares)
JSE bond codes: SBS, SBK, SBN, SBR, ETN series SSN series and CLN series (all JSE listed bonds issued in terms of The
Standard Bank of South Africa Limited’s Domestic Medium Term Note Programme and Credit Linked Note Programme)
(“Standard Bank Group” or “the group”)


Financial information provided to Industrial and Commercial Bank of China Limited (“ICBC”)


Standard Bank Group is required to disclose to ICBC sufficient information to enable ICBC to equity account the group's results
on a quarterly basis. Accordingly, the following consolidated financial information, prepared on an International Financial
Reporting Standards (“IFRS”) basis, is being provided to ICBC for the nine months ended 30 September 2013.


Statement of changes in ordinary shareholders' equity for the nine months ended 30 September 2013



                                                                       Earnings
                                            1                                                                      Balance at
                                              Balance at         attributable to     Other movements
                                                                                                                30 September
                                          1 January 2013               ordinary          for the period
                                                                                                                        2013
                                                                  shareholders
      Rm

      Ordinary share capital
                                                    161                                                    1              162

      Ordinary share premium
                                                  17 931                                                 150            18 081

      Foreign currency reserves
                                                    412                                                 4 843             5 255
      Translation reserve                                                                              3
                                                     (2)                                                4 854             4 852
      Cash flow hedging
      reserve
                                                    414                                                  (11)               403

      Retained earnings                                                                               2
                                                  93 538                 11 743                        (6 596)           98 685

      Empowerment reserve
      and treasury shares
                                                                                                      4
                                                 (3 460)                                                1 765           (1 695)

      Other
                                                   2 503                                                 299              2 802
      Total ordinary
      shareholders' equity
                                                111 085                  11 743                          462           123 290


1
    IFRS 10 – Consolidated Financial Statements, IFRS 11 – Joint Arrangements and the amendments to IAS 19 – Employee
    Benefits were adopted retrospectively on 1 January 2013. These amendments resulted in an increase of R715m in the
    group’s opening reserves, largely due to the recognition of a Retirement fund surplus.

2
    Primarily comprises the cash component of the ordinary dividend declared in March 2013 and the ordinary dividend
    declared in August 2013.

3
    The change in translation reserve principally arises from the translation impact on the group’s foreign net assets of a
    R10.03 Rand / 1 US dollar exchange rate at 30 September 2013 compared to a rate of R8.48 at 31 December 2012.

4
    Comprises the positive impact on equity of replacing a portion of the internal financing of our Tutuwa Black Ownership
    Initiative with external financing.

The information contained in this announcement has not been reviewed by or reported on by the group's auditors.


Johannesburg
24 October 2013

Lead sponsor
Standard Bank

Independent sponsor
Deutsche Securities (SA) Proprietary Limited

Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

Date: 24/10/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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