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SBK
SBK
SBK - Standard Bank Group Limited - Trading statement in respect of the six
months ended 30 June 2009
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 Group" or "the group")
Trading statement in respect of the six months ended 30 June 2009
Standard Bank Group`s results for the six months ended 30 June 2009 will be
released on 13 August 2009. In terms of the Listings Requirements of the JSE
Limited, a listed company is required to publish a trading statement as soon as
a reasonable degree of certainty exists that the financial results for the next
reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.
The group expects that normalised headline earnings will be between 20% and 25%
lower when compared with the corresponding period in 2008. Normalised headline
earnings of the group`s banking activities are expected to be 10% to 15% lower
than the corresponding period. With respect to the group`s investment management
and life insurance operation, shareholders are referred to Liberty Holdings
Limited`s recent trading statement wherein it was stated that "Liberty Holdings
Limited expects to report a total and headline loss for the six months ended 30
June 2009 of between R1 100m and R1 300m".
Headline earnings per share, diluted headline earnings per share and basic
earnings per share on a normalised basis for the six months ended 30 June 2009
are likely to be between 25% and 30% lower than the corresponding period.
Headline earnings per share, diluted headline earnings per share and basic
earnings per share calculated on an IFRS basis are likely to be between 30% and
35% lower than the corresponding period.
Results are normalised to reflect the legal and economic substance of the
group`s Black Ownership Initiative and deemed treasury shares held for the
benefit of Liberty policyholders.
The above information has not been reviewed or reported on by the group`s
external auditors.
Johannesburg
30 July 2009
Independent sponsor
Deutsche Securities (SA) (Proprietary) Limited
Joint sponsor
Standard Bank
Date: 30/07/2009 17:05:02 Produced by the JSE SENS Department.
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