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SBK
SBK
SBK - Standard Bank - Voluntary trading statement in respect of the year ended
31 December 2008
Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
South African Share Code: SBK
Namibian Share Code: SNB
ISIN: ZAE000109815
("Standard Bank" or "the group")
Voluntary trading statement in respect of the year ended 31 December 2008
Standard Bank`s results for the year ended 31 December 2008 will be released on
5 March 2009. Given the prevailing volatility of financial markets and in order
to keep investors informed in these unusual circumstances, a voluntary trading
statement is provided below.
In October 2008, Standard Bank provided the market with financial results for
the 9 months ended 30 September 2008. Despite the fourth quarter being extremely
challenging the results for the year are nevertheless expected to be broadly in
line with what was anticipated at that stage. The group expects that normalised
headline earnings for the year ended 31 December 2008 will be between 5% and 10%
higher than the previous corresponding period.
Headline earnings per share and diluted headline earnings per share on a
normalised and IFRS basis for the year ended 31 December 2008 are likely to be
between 0% and 5% lower than the previous corresponding period, as a result of
the additional shares issued to Industrial and Commercial Bank of China Limited
in March 2008. Basic earnings per share, calculated on a normalised and IFRS
basis is likely to range between 8% and 12% lower than the previous
corresponding period.
Normalised earnings reflect the legal and economic substance of the group`s
Black Ownership Initiative and deemed treasury shares held for the benefit of
Liberty Life policyholders.
The information contained in this announcement has not been reviewed or audited
by the company`s external auditors either in terms of paragraph
3.4(b)(vi)(1)(aa) or 3.4(b)(vi)(1)(bb) of the JSE Listings Requirements.
Johannesburg
20 February 2009
Independent sponsor
Deutsche Securities (SA) (Proprietary) Limited
Joint sponsor
Standard Bank
Date: 20/02/2009 07:25:16 Produced by the JSE SENS Department.
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