Company Announcements

SBG Annual Financial Report & Notice of AGM

Source: RNS
RNS Number : 0713K
Standard Bank Group Limited
17 April 2020
 

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:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

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:

Ann Hunter

Standard Bank Group Limited
9th Floor
5 Simmonds Street, Johannesburg PO Box 2001
South Africa
Telephone number: +27 11 415 4194

DISCLAIMER

This Announcement is not intended to, and shall not, constitute or contain an offer to sell or solicitation of an offer to purchase the securities referred to herein by any person in any jurisdiction where it is unlawful to make an offer or solicitation. The distribution of the Announcement and the offer or sale of the securities referred to herein in certain jurisdictions is restricted by law. This Announcement may not be used for or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful.

In the United Kingdom, this Announcement is being distributed only to, and is directed only at, persons who are (i) investment professionals, as such term is defined in Article 19(5) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the Financial Promotion Order); (ii) persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Financial Promotion Order; (iii) outside the United Kingdom; or (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any Notes may otherwise lawfully be communicated or caused to be communicated.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the Securities Act), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to US persons (as such term is defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of the securities in the United States.

Your right to access this service is conditional upon complying with the above requirement.

 


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