Statement re Trading Statement Update

Standard Bank Group Limited

04 August 2023

 

Standard Bank Group Limited

4 August 2023

Trading statement update for the six-month period ended 30 June 2023

Standard Bank is currently in the process of finalising its interim results for the six-month period ended 30 June 2023 (1H23). Further to the voluntary trading update released on SENS on 20 June 2023, we note that the group continued to benefit from our growing client franchise, tailwinds from higher interest rates, and elevated market volatility into June 2023.

We refer shareholders to the group's trading statement for 1H23 released on SENS on 20 June 2023, which stated that more specific guidance ranges would be provided once there is reasonable certainty regarding the extent of the increase in earnings.

In accordance with section 3.4(b) of the Listings Requirements of the JSE Limited, and as an update to the trading statement published on 20 June 2023, shareholders are advised that Standard Bank is satisfied that a reasonable degree of certainty exists with regards to the group's financial results for 1H23. The group's headline earnings per share (HEPS) and earnings per share (EPS) for 1H23 is expected to be higher than the reported HEPS and EPS for the six-month period ended 30 June 2022 (1H22), translating into:

Table 1	1H22 published (cents)	Range	1H23 range (cents)
HEPS	936.2	33% - 38% higher than 1H22	1 245.1	1 292.0
EPS	961.4	35% - 40% higher than 1H22	1 297.9	1 346.0

Table 2	1H22 restated* (cents)	Implied range**	1H23 range (cents)
HEPS	955.5	30% - 35% higher than 1H22	1 245.1	1 292.0
EPS	980.6	32% - 37% higher than 1H22	1 297.9	1 346.0

*1H22 numbers published in August 2022 were restated for the impact of IFRS17. The IFRS 17 Transition Report is available on the Standard Bank Group Investor Relations website.

** The implied range is derived from the 1H23 range (cents) provided in Table 1, and the 1H22 restated (cents) figures in Table 2.

1H23 Results

Standard Bank will release results for 1H23 on 17 August 2023. Details to register for the investor presentation are available on the Standard Bank Group Investor Relations website -

https://reporting.standardbank.com/

Shareholders are advised that the information contained in this announcement has not been reviewed or reported on by the group's auditors.

For further information, please contact:

Marc Hearn

Standard Bank Group Limited
9th Floor
5 Simmonds Street, Johannesburg PO Box 2001
South Africa
Telephone number: [phone]

DISCLAIMER

This Announcement is not intended to, and shall not, constitute or contain an offer to sell or solicitation of an offer to purchase the securities referred to herein by any person in any jurisdiction where it is unlawful to make an offer or solicitation. The distribution of the Announcement and the offer or sale of the securities referred to herein in certain jurisdictions is restricted by law. This Announcement may not be used for or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful.  

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END