Re:Interim results Gap seems to be closing (-1.2%) at moment; wonder if this was not expected in a way and subsequently already included in the share price. Australia: 073 911 1378 Please click here for the webcast link, alternatively you may dial in using the below: Standard Bank Group 2020 Interim Results presentation. Financial results Standard Bank continues to produce resilient financial results in challenging environments, ensuring that you, our client, benefit from our Africa-focused strategy and our strong balance sheet to support your business growth goals with the African continent and globally. In addition, due to the considerable uncertainty and associated forecast risk, an additional R500 million provision was raised and held centrally. CIB’s capabilities and reach remains attractive to domestic clients and multi-national corporates already operating, seeking to operate or seeking to expand on the continent. A transcript will be available 48 hours after the presentation. A transcript will be available 48 hours after the presentation. Key performance indicators. Prospects of a modest economic recovery in 2020 were replaced with expectations for a large decline (Standard Bank Research: South Africa’s real GDP is forecast to decline 8.5% in 2020 followed by a 4.5% recovery in 2021). Our 3Q 2020 results were released at 04:15 UKT / 12:15 HKT on Thursday 29 October 2020 on our website. Australia: 073 911 1378 ... As a result, our 440,000 colleagues have been able to make a significant and lasting contribution towards keeping their nations fed. Download PDF ... Standard Bank CIB. This was partially offset by the continued investment in client experience and digitisation workstreams, as well as certain Covid-19 specific expenses, for example front-line staff and customer safety measures. We continue to proactively manage the costs recorded in the centre. International: +27 10 500 4108 As a result, Africa Region’s contribution to 1H20 banking headline earnings grew to 62%. Standard Bank (including our owners, agents, consultants, employees and any affiliated person) are not responsible for any loss that results from: any technical or other problem (including interruption, malfunction, downtime or other failure) that affects this website, system or any online service or any database for any reason; Gross loans and advances to customers grew 11% from 30 June 2019 to 30 June 2020, of which Corporate and Investment Banking (CIB) grew 17% and Personal and Business Banking (PBB) grew 6%. Investment in technology platforms resulted in cost growth of 7%. Lockdowns encouraged customers to transition to our digital channels. Globally, 1H20 has been dominated by the Covid-19 pandemic (Covid-19) and the distressing human and economic cost thereof. Provisions raised reflect the group’s best estimate based on available data and our scenario-based analysis as at the reporting date. The poor economic outlook and declining inflation trend paved the way for cumulative interest rate cuts equating to 275 bps in the period. To accommodate the lockdown requirements and protect our people, certain branches were temporarily closed and teams were reorganised to maintain the delivery of key functions to our clients. Standard Bank had a good first half, growing headline earnings by 12% despite currency headwinds from its operations outside SA. Robust gross loan origination and an increase in drawdowns of unutilised facilities supported average balances, which drove NII growth of 22%. PBB SA was impacted by negative endowment, elevated impairments, lower transactional volumes and a significant decline in loan disbursements in 2Q20. Participants will be required to state their name and company upon entering the call. Profit attributable to ordinary shareholders declined 71% to R3.8 billion. ICBC Standard Bank | Unaudited interim results 6 Capital resources At 30 June 2020, the group's equity capital resources amounted to US$1,236.0 million (30 June 2019: US$1,124.4 million) and total capital resources qualifying for prudential purposes were US$1,355.3 million (30 June 2019: US$1,258.0 million). Presentations. The group’s liquidity position remained strong and within approved risk appetite and tolerance limits. Pre-provision operating profit grew 19% period on period. Credit impairment charges increased across most countries, with notable increases in Kenya, Tanzania, Uganda and Zimbabwe. The Shareholder Investment Portfolio performance reflected negative investment market returns, particularly in respect of foreign and local equities. Lower interest rates are expected to persist throughout 2H20, which will put pressure on NII. End Date: 31 August 2020 From September 2019, the investment was recognised as held for sale and the group ceased recognising its share of profits. Underlying client growth has continued, with both client lending and discretionary assets under management increasing period on period. This, together with strong foreign exchange flows in South Africa and the West Africa Region, supported trading revenues, which increased 40% to R8.1 billion (1H19: R5.8 billion). We wish all our stakeholders strength during this difficult time and ask that they continue to partner us as we drive a return to growth for all. Standard Bank Group is the largest African banking group by assets With a market cap of approximately R169 billion (approx. We remain committed to delivering a positive societal, economic and environmental impact. In line with the South African Reserve Bank’s guidance, the SBG Board has not declared an interim dividend. Positive jaws of 100 bps supported pre-provision operating profit, which grew 4% period on period to R24.3 billion. Covid-19 related regulatory actions included wide-spread interest rate cuts, easing of capital and liquidity requirements and fee waivers and restrictions. Software licence, data lines and cloud costs increased as remote working and business continuity management drove higher usage. Sub-Saharan Africa experienced record capital outflows and financial conditions tightened. During the period, the group performed a review of certain of its IT capabilities. Where appropriate, PBB has agreed to extend payment holidays and other relief measures. Net fee and commission income declined as consumer activity levels and transactional volumes decreased significantly as a result of the lockdowns. Integrated, governance and remuneration reports, financial statements and notices to shareholders…, The full suite of financial results and reports…, Our most recent and archived presentations…, Quarterly disclosures in accordance with the Basel Committee on Banking Supervision…, How we impact on the societies, economies and environments in which we operate…, Details on the forthcoming annual general meeting…, Details of the sell-side analysts that cover the Standard Bank Group…, An ADR is a negotiable United States (US) certificate representing ownership of shares in a non-US corporation…. Archive. Digital transaction volumes increased 78% in SA, and comprised 99% of total transactions, while in Africa Regions volumes increased 24% and comprised 94% of total transactions. The condensed financial results of Standard Bank Group Limited (Standard Bank) for the six month period ended 30 June 2020 have been published and submitted to … Our offshore operations in the Isle of Man and Jersey continued to provide the group with access to hard currency funding. ... Our Financial Results The latest Standard Bank Group financial results. NIM declined 42 bps to 559 bps. The group’s Africa Regions business proved relatively resilient, delivering headline earnings growth of 11%, and 7% in constant currency (CCY). Significant margin pressure offset strong balance sheet growth to deliver flat NII. Annual Reports. PBB Africa Regions (PBB AR) gross loans and advances grew 20% to R89 billion, supported by ongoing focus on client ecosystem origination, digital client onboarding and digital disbursements, as well as a weaker ZAR period on period. STANDARD BANK GROUP FINANCIAL RESULTS PRESENTATION 1H20 20 August 2020. Basel Pillar 3 … Integrated, governance and remuneration reports, financial statements and notices to shareholders…, The full suite of financial results and reports…, Our most recent and archived presentations…, Quarterly disclosures in accordance with the Basel Committee on Banking Supervision…, How we impact on the societies, economies and environments in which we operate…, Details on the forthcoming annual general meeting…, Details of the sell-side analysts that cover the Standard Bank Group…, An ADR is a negotiable United States (US) certificate representing ownership of shares in a non-US corporation…. SIGN UP SIGN IN PODCASTS LISTEN EARN POINTS CPD HUB TRENDING COVID-19 MOBILE. Basel Pillar 3 … The business continued to benefit from diversification across clients, sectors and regions. Credit impairment charges increased to R11.3 billion, 2.7 times that of 1H19. The deteriorating credit environment drove a 39% increase in risk-weighted assets (RWA) period on period. The group also issued R5.5 billion Basel III compliant Tier 2 capital, the proceeds of which were invested in The Standard Bank of South Africa. The group’s second quarter average Basel III liquidity coverage ratio amounted to 136%, well in excess of the temporarily reduced minimum phased-in regulatory requirement of 80%. 20 August 2020 Interim Financial Results. Global Markets (GM) revenue grew 43% on the back of strong risk management and increased client activity in volatile markets. A partial resumption of economic activity, following the relaxation of the lockdown regulations in the second half of May and in June, resulted in a partial recovery of transactional volumes and values and, in turn, NIR by the end of the period. … In South Africa, the business maintained its foreign exchange market share and improved its equities market share. Staff costs were up 1% as annual salary increases were offset by lower headcount and performance-related incentives. STANDARD BANK GROUP 7 TCFD Interim Report 2020 Impact of climate-related risks and opportunities on business, strategy and financial planning Standard Bank has undertaken a preliminary assessment of high carbon emitting sectors in our portfolio. The safety and wellbeing of our customers and employees has been, and remains, of utmost importance. A virtual presentation of the results will be held at 07:30 UKT / 15:30 HKT. In addition, the South African government implemented a sizeable stimulus package to support those most vulnerable. Negative endowment, and related margin compression, more than offset the revenue increases related to balance sheet growth. This was more than offset by higher insurance, asset management and foreign currency service fees as well as higher point of representation fees. While current CIB provision levels are deemed appropriate, CIB exposures, by their nature, are lumpy and additional provisions may be required if ratings deteriorate further and/or individual clients experience difficulties. RESULTS for the six months ended 30 June 2020 SBN Holdings Limited. Is it a good time to be buying a bank on the continent? Other costs increased 3% as lockdown-driven reductions in discretionary spend, for example travel and entertainment, were offset by increases in information technology (IT) costs. PBT GROUP LIMITED – Unaudited interim results 30 September 2020 27 November 2020 07:05 . We're here for you as we face this pandemic. During 1H20, the group successfully raised R24 billion of longer-term funding. As one of the first banks to proactively offer client relief initiatives, we lived up to our brand promise and deepened our customer relationships. The investment in customer proposition development and client experience workstreams continued. In the month of July, customer activity and business turnover levels continued to recover. The CET1 ratio, including the full IFRS 9 transitional impact, was 12.5%. Africa Regions delivered a strong performance. Key performance indicators. Consequently, banking operations reported headline earnings of R7.7 billion, down 40% on 1H19, and a return on equity (ROE) of 9.5%. GROUP RESULTS ... Namibia SBN Holdings Limited’s full announcement containing the interim results announcement for the six months ended 30 June 2020 Registration number: 2006/306 Country of incorporation: Republic of Namibia ... is available for viewing on the Standard Bank website. Deeds and vehicle registration offices were closed in April and the first half of May, stalling mortgage and vehicle and asset finance (VAF) portfolio growth. CIB deposit growth was underpinned by higher corporate current account balances as market uncertainty led clients to reassess planned capital investments and hold larger cash balances. As at 30 June 2020, Covid-19 client relief provided by PBB AR totalled R11 billion representing 12% of the PBB AR portfolio. As at 30 June 2020, loans approved under the South African Covid-19 loan guarantee scheme totalled R8.3 billion. After adjusting for treasury shares, the group’s share of the loss amounted to R0.7 billion (1H19: earnings of R0.9 billion). Combined, this will ensure we remain relevant to our customers, attractive to our employees and enable us to deliver value to all stakeholders. Turnover, trade and foreign currency service fees as well as client behaviour post expiry. Decreased 36 % to R4.4 billion equated to R508 million as they have continued to support those vulnerable. Net stable funding ratio in excess of the 100 % regulatory requirement excess of the SA... 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