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No Change Statement, Notice of Annual General Meeting and B-BBEE Annual Compliance Report
Standard Bank Group Limited
Registration number 1969/017128/06
Incorporated in the Republic of South Africa
Website: www.standardbank.com/reporting
Share codes
JSE share code: SBK ISIN: ZAE000109815
NSX share code: SNB ZAE000109815
A2X share code: SBK
No Change Statement, Notice of Annual General Meeting and B-BBEE Annual Compliance Report
1. No Change Statement
The consolidated audited annual financial statements of Standard Bank Group Limited (Standard Bank Group or the company or the group) for the year
ended 31 December 2019, on which KPMG Inc. and PricewaterhouseCoopers Inc. expressed an unmodified opinion, contain no modifications to the
audited results for the year ended 31 December 2019 which were released on the Stock Exchange News Service of the JSE Limited (SENS) on Thursday,
5 March 2020. The annual financial statements of the group, including the unqualified audit report thereto can be found using the following weblink:
https://thevault.exchange/?get_group_doc=18/1586868233-SBGAFSFinal.PDF and will also be made available on the Investor Relations website of
Standard Bank Group on Friday, 17 April 2020 during the course of the morning.
The key audit matters included in the mentioned auditors report available using the above weblink are:
- Expected credit losses on Corporate & Investment Banking loans and advances
- ECL on Personal & Business Banking loans and advances
- Valuation of level 3 financial instruments
- Valuation of long-term policyholders’ assets and liabilities under insurance contracts
- Valuation of investment property at year-end
- Impairment of the Investment in ICBC Standard Bank Plc
- Hyperinflationary considerations relating to Stanbic Bank Zimbabwe Limited
- Impairment of interest in subsidiaries.
An electronic version of the group’s annual integrated report, governance and remuneration report and the risk and capital management report will also be
made available on the Investor Relations website of Standard Bank Group on Friday, 17 April 2020 during the course of the morning.
2. Annual General Meeting
The AGM of shareholders will be held on Friday, 26 June 2020. The notice of AGM and proxy forms will be distributed to shareholders and made available
on the investor relations website of Standard Bank Group on Friday, 24 April 2020 during the course of the morning.
Shareholders will be advised once the notice and details of the AGM have been published through SENS on Friday 24 April 2020.
3. B-BBEE Annual Compliance Report
In compliance with paragraph 16.20(g) of the Listings Requirements of the JSE Limited, shareholders are advised that the Group’s annual compliance
report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act has been submitted to the B-BBEE Commission and is available
at https://www.standardbank.co.za/southafrica/personal/about-us.
4. Other information
At the time of writing the Standard Bank Group reporting suite, COVID19 had only begun spreading rapidly across the world. It’s impact on our
communities and business activities was still being quantified. We intend to include these impacts in our strategy and short-term and long-term
budget plans. Refer to the group's Investor Relations website for other announcements relating to COVID19.
Johannesburg
17 April 2020
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: 17-04-2020 09:22:00
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