STANDARD BANK GROUP LIMITED - Financial information provided to ICBC and update on operational performance for the nine months ended 30 September

Financial information provided to ICBC and update on operational performance for the nine months ended 30 September

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
SBKP ZAE000038881 (First preference shares)
SBPP ZAE000056339 (Second preference shares)
(“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 nine months ended 30
September 2021

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 nine months ended 30 September 2021 (9M21).


Statement of changes in ordinary shareholders' equity for the nine months ended 30
September 2021

                           Balance as at 1           Earnings    Other movements      Balance as at 30
                            January 2021       attributable to       for the period   September 2021
                                                     ordinary
                                                shareholders
                                      Rm                  Rm                   Rm                 Rm
 Ordinary share capital               162                                                         162
 Ordinary share premium            17 854                                                      17 854
 Foreign currency
 translation and hedging
 reserve                           (8 696)                                   3 196             (5 500)

 Foreign currency
 translation reserve
 (FCTR)                            (7 735)                                   3 051             (4 684)
 Foreign currency net
 investment and cash
 flow hedging reserve                (961)                                     145               (816)

 Retained earnings                163 065              17 756              (9 517)*           171 304
 Empowerment reserve
 and treasury shares               (2 806)                                    (311)            (3 117)
 Other                              6 792                                    1 697              8 489

 Ordinary shareholders’
 equity                           176 371              17 756               (4 935)           189 192



* Primarily comprises the ordinary dividends declared in March and August 2021.


Update on the group’s operational performance


In the three months from 1 July to 30 September 2021 (3Q21), relative to the three months to 30
September 2020 (3Q20), higher average balances offset lower margins to deliver mid-single digit net
interest income growth. Margins were stable relative to those recorded in the six months to 30 June
2021. Non-interest revenue grew as client transactional activity continued to recover and trading
activities had a strong quarter relative to 3Q20.

Credit continued to perform well and the credit loss ratio for the 9M21 remained within the group’s
through-the-cycle credit loss ratio range of 70 to 100 basis points.

ICBC Standard Bank plc continued to report a profit in the three-month period. The stronger South
African Rand remained a drag on reported earnings. Constant currency earnings growth was stronger
than reported earnings.

Earnings attributable to ordinary shareholders in 9M21 were 108% higher than in the comparative
period. In 9M21 the headline earnings adjustable items were not material. In contrast, in 9M20
headline earnings adjustable items reduced earnings attributable to ordinary shareholders by R3.9
billion.

The group remains well capitalised and liquid.

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.

Queries:
Investor Relations
Sarah Rivett-Carnac
Email: sarah.rivett-carnac@standardbank.co.za

Johannesburg
20 October 2021


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: 20-10-2021 08:00:00
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