SBK - Standard Bank Group Limited - Voluntary trading statement in respect of
SBK
SBK
SBK - Standard Bank Group Limited - Voluntary trading statement in respect of
the year ending 31 December 2010
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")
Voluntary trading statement in respect of the year ending 31 December 2010
Standard Bank Group will be releasing its results for the year ending 31
December 2010 on the Securities Exchange News Service on 3 March 2011. The
pressures on banking revenues evident in the first six months of 2010 have
intensified in the second half of 2010. In addition to these revenue pressures,
and as announced on 17 November 2010, the group will be incurring substantial
retrenchment costs in the second half of 2010. Accordingly, a voluntary trading
statement for the group is provided below.
Shareholders are advised that Standard Bank Group`s earnings per share, headline
earnings per share (HEPS) and diluted HEPS are expected to be between 3% and 12%
lower than the same earnings figures for the year ended 31 December 2009,
calculated both on a normalised basis and on an International Financial
Reporting Standards basis.
Normalised earnings reflect the legal and economic substance of the group`s
Black Ownership Initiative and of deemed treasury shares held for the benefit of
Liberty policyholders and to facilitate client trading activities.
The financial information on which this trading statement is based has not been
reviewed or reported on by the group`s external auditors.
Johannesburg
2 December 2010
Lead sponsor
Standard Bank
Independent sponsor
Deutsche Securities (SA) Proprietary Limited
Date: 02/12/2010 08:45:01 Produced by the JSE SENS Department.
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