SBG Annual Financial Report & Notice of AGMSource: RNS
Standard Bank Group Limited
Standard Bank of South Africa Limited
17 April 2020
Publication of the Standard Bank Group Limited and Standard Bank of South Africa Limited annual financial statements for the year ended 31 December 2019 and notice of Annual General Meeting
The consolidated annual financial statements of Standard Bank Group Limited (Standard Bank Group or the company or the group) and Standard Bank of South Africa Limited (SBSA) for the year ended 31 December 2019 have been published and submitted to the FCA National Storage Mechanism (NSM) and will shortly be available for inspection at:
The consolidated audited annual financial statements of Standard Bank Group for the year ended 31 December 2019, on which KPMG Inc. and PricewaterhouseCoopers Inc. expressed an unmodified opinion, contain no modifications to the audited results for the year ended 31 December 2019 which were released on Thursday, 5 March 2020.
The key audit matters included in the mentioned auditors report are:
- Expected credit losses on Corporate & Investment Banking loans and advances
- Expected credit losses on Personal & Business Banking loans and advances
- Valuation of level 3 financial instruments
- Valuation of long-term policyholders' assets and liabilities under insurance contracts
- Valuation of investment property at year-end
- Impairment of the Investment in ICBC Standard Bank Plc
- Hyperinflationary considerations relating to Stanbic Bank Zimbabwe Limited
- Impairment of interest in subsidiaries.
An electronic version of the group's annual integrated report, governance and remuneration report and the risk and capital management report will also be made available on the Investor Relations website of Standard Bank Group on Friday, 17 April 2020 during the course of the morning.
Annual General Meeting
The Annual General Meeting (AGM) of shareholders of Standard Bank Group Limited (shareholders) will be held on Friday, 26 June 2020.
The notice of AGM and proxy forms will be made available on the investor relations website of Standard Bank Group on Friday, 24 April 2020 during the course of the morning.
For further information, please contact:
Standard Bank Group Limited
5 Simmonds Street, Johannesburg PO Box 2001
Telephone number: +27 11 415 4194
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