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SBK
SBK
SBK - Standard Bank Group Limited - Financial Information Provided To
Industrial and Commercial Bank of China Limited ("ICBC")
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")
Financial Information Provided To Industrial and Commercial Bank of China
Limited ("ICBC")
Introduction
Consequent upon ICBC`s 20% shareholding in Standard Bank Group, the group is
required to disclose to ICBC sufficient information to enable ICBC to equity
account the group`s results on a quarterly basis. The following consolidated
financial information, prepared on an International Financial Reporting
Standards (IFRS) basis, has been disclosed to ICBC for purposes of ICBC`s
equity accounting of the group`s results for the period ended 30 September
2009.
Statement of changes in Standard Bank Group`s ordinary shareholders` equity
for the period ended 30 September 2009
Rm Opening Earnings Other Total
balance attributable movements
1 January to ordinary for the
2009 shareholders period
Ordinary share capital 153 3 156
Ordinary share premium 16 844 149 16 993
Foreign currency reserves 6 970 (6 578) 392
Translation reserve 5 288 **(6 591) (1 303)
Cash flow hedging reserve 1 682 13 1 695
Retained earnings 59 693 *7 217 ***(2 621) 64 289
Empowerment reserve and (3 411) (4) (3 415)
treasury shares
Other 1 704 381 2 085
Total ordinary shareholders` 81 953 7 217 (8 670) 80 500
equity
Notes
* Earnings attributable to ordinary shareholders on an IFRS basis are R7 217
million and on a normalised basis for the nine months to 30 September 2009
amounted to R8 031 million. Normalised results include adjustments to account
for two accounting anomalies, the IFRS treatment of the Black Economic
Empowerment initiative and shares held for the benefit of Liberty
policyholders.
** The negative amount in the foreign currency translation reserve is due to
the South African Rand strengthening against the USD, Euro, GBP and all major
African currencies.
***Comprises mainly the cash dividends paid in April 2009 and September 2009.
The information contained in this announcement has not been reviewed by or
reported on by the group`s auditors.
Johannesburg
22 October 2009
Independent sponsor
Deutsche Securities (SA) (Proprietary) Limited
Sponsor
Standard Bank
Date: 22/10/2009 08:00:22 Produced by the JSE SENS Department.
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