Standard Bank Produces Satisfactory Financial Results

Standard Bank Group has produced a stable performance in 2013, increasing headline earnings per share by 14% and net asset value per share by 14%. Group return on equity has increased to 14.1% from 14.0% in 2012.

Results at a glance:

Headline earnings: R17 194 million, up 15%
Headline earnings per share (HEPS): 1 064.9 cents, up 14%
Dividends per ordinary share: 533 cents (2012: 455 cents), up 17%
Capital adequacy: tier I capital adequacy ratio of 13.2% (2012: 11.2%)
Cost-to-income ratio: 58.5% (2012: 58.9%)
Credit loss ratio: 1.04% (2012: 1.08%)
Return on equity (ROE): 14.1% (2012: 14.0%)
Net asset value (NAV) per share: 8 127 cents (2012: 7 136 cents) up 14%

Sim Tshabalala, Standard Bank Group Chief Executive said momentum in the business was maintained during the year with particularly pleasing results in the rest of Africa, achieving 44% growth in aggregate headline earnings.

“Standard Bank’s positioning in selected countries in Africa reflects our confidence in its economic prospects, allowing us to provide products and services that deliver value to our clients across the continent.

We are confident of our positioning across Africa and of the quality and dedication of our people to serve and provide value for our clients.

The considerable progress we have made in realigning our available resources and intensifying our focus on the expanding markets on the African continent has delivered an enviable franchise off which the group is able to drive sustainable growth.”

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