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Financial information provided to the 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 and A2X share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
(“Standard Bank Group” or “the group”)
Financial information provided to the Industrial and Commercial Bank of China Limited (“ICBC”) and
update on the group’s operational performance for the three months ended 31 March 2019
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 (“IFRS”) basis, is being provided to ICBC for the three months ended
31 March 2019.
Statement of changes in ordinary shareholders' equity for the three months ended 31 March 2019
Balance at 1 Earnings Other movements Balance as at
January 2019 attributable to for the period 31 March 2019
ordinary
shareholders
Rm Rm Rm Rm
Ordinary share
capital 162 162
Ordinary share
premium 17 698 17 698
Foreign currency
translation and
hedging reserve (2 977) (1 317) (4 294)
Foreign currency
translation reserve
(FCTR) (1 800) (1 366)1 (3 166)
Foreign currency
net investment and
cash flow hedging
reserve (1 177) 49 (1 128)
Retained earnings 149 118 6 644 (9 723)2 146 039
Empowerment
reserve and
treasury shares (2 358) 1 245 (1 113)
Other 3 418 1 630 5 048
Ordinary
shareholders’ equity 165 061 6 644 (8 165) 163 540
1 The movement in the FCTR was mainly impacted by the introduction of the RTGS dollar in Zimbabwe.
2 Primarily comprises the ordinary dividends declared in March 2019.
Update on the group’s performance for the three months to 31 March 2019
In the three months to 31 March 2019 (1Q19), the South African banking business performance continued to be
impacted by the difficult domestic operating environment. In contrast, the Africa Regions businesses, outside of
South Africa, recorded strong growth. Net interest income growth was supported by year-on-year loan growth.
Non-interest revenue growth was supported by an increase in trading revenue. Operating expenses were
elevated due to costs related to the branch closures. Credit impairment charges were higher than in the prior year
primarily due to the non-repeat of prior year releases in Africa Regions.
In 1Q19, earnings attributable to ordinary shareholders were 8% higher than in the comparative period. During
the period the headline earnings adjustable items were negligible. The group’s Basel III disclosure as at 31 March
2019 will be released in May 2019.
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
24 April 2019
Lead sponsor
The Standard Bank of South Africa Limited
Independent sponsor
JP Morgan Equities South Africa Proprietary Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited
Date: 24/04/2019 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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