Standard Bank Group Limited Statement re Trading Statement Update (3546I)
04 August 2023 - 9:16AM
UK Regulatory
TIDM68IG
RNS Number : 3546I
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 1H22 published Range 1H23
1 (cents) range
(cents)
33% - 38% higher
HEPS 936.2 than 1H22 1 245.1 1 292.0
--------------- ----------------- -------- --------
35% - 40% higher
EPS 961.4 than 1H22 1 297.9 1 346.0
--------------- ----------------- -------- --------
Table 1H22 restated* Implied range** 1H23
2 (cents) range
(cents)
30% - 35% higher
HEPS 955.5 than 1H22 1 245.1 1 292.0
--------------- ----------------- -------- --------
32% - 37% higher
EPS 980.6 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: +27 11 631 6897
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
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2005 (as amended, the Financial Promotion Order); (ii) persons
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unincorporated associations, etc.") of the Financial Promotion
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the meaning of Section 21 of the Financial Services and Markets Act
2000) in connection with the issue or sale of any Notes may
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