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

Release Date: 23/04/2015 08:00
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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 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, SBC, SBAG1, SBAS1, SBAPL1,
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 Structured Note Programme (formerly
the Credit Linked Note Programme))
(“Standard Bank Group” or “the group”)

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

On a quarterly basis 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 three months ended 31 March 2015.

Statement of changes in ordinary shareholders' equity for the
three months ended 31 March 2015

                    Balance       Earnings       Other      Balance
                         at   attributable   movements           at
                  1 January    to ordinary     for the     31 March
  Rm                    2015   shareholders      period         2015
  Ordinary share
                         162                                    162
  Ordinary share 
                      17 905                                  17 905
                        7 359                    (3 588)       3 771
  reserve (FCTR)
  FCTR for the
                        7 359                          466     7 825
  FCTR release
  to income                                       (4 054)     (4 054)
  currency net 
  investment and                                    1
                         52                           (444)     (392)
  cash flow
  Retained                            2           3
  earnings         110 504             8 289       (5 656)     113 137
  reserve and                                        4
  treasury         (2 570)                             1 179   (1 391)
  Other                 3 573                            345     3 918
  Total ordinary
  shareholders'    136 985             8 289       (8 164)     137 110

    Primarily comprises a release to the income statement relating to
    the disposal of the group’s 60% controlling interest in Standard
    Bank Plc (SB Plc) on 1 February 2015.
    Included in earnings attributable to ordinary shareholders is
    approximately R3.1 billion of earnings excluded from headline
    earnings, the majority of which relates to the disposal of the
    group’s 60% controlling interest in SB Plc. This primarily
    comprises the release of R4.1 billion of the group’s FCTR to the
    income statement, which relates to historical foreign currency
    translation gains recognised on SB Plc’s net asset value, less the
    recognition of the remaining unrecognised loss on the disposal.
    Primarily comprises the ordinary dividends declared in March 2015.
    The reduction of the negative empowerment reserve is primarily due
    to the repayment of funding by Tutuwa participants following the
    expiry of the lock-in period on 31 December 2014.

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

23 April 2015

Lead sponsor

The Standard Bank of South Africa Limited

Independent sponsor

Deutsche Securities (SA) Proprietary Limited

Namibian sponsor

Simonis Storm Securities (Proprietary) Limited

Date: 23/04/2015 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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