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standard bank interim results 2020

By December 21, 2020Uncategorized

08h00 SA time ESG. Credit impairment charges increased to R8.6 billion (1H19: R3.7 billion), 2.3 times 1H19 charges. Leveraging the group’s strong capital position, we will continue to work with our individual, business and corporate clients, in a responsible manner, to find suitable solutions to enable them to participate and support the much-needed transition to the recovery phase. Interim Results. The group credit loss ratio (CLR) increased to 169 bps (1H19: 76 bps). Where we are. As at 30 June 2020, Covid-19 client relief provided by PBB AR totalled R11 billion representing 12% of the PBB AR portfolio. Market conditions led to declines in equity investment portfolio valuations which negatively impacted other revenue. As one of the first banks to proactively offer client relief initiatives, we lived up to our brand promise and deepened our customer relationships. For more on the interim results, visit reporting.standardbank.com. This change will not affect any contracts or arrangements you have with the Bank and you do not need to take any action. PBB customer deposits grew 16%, with strong growth in savings and investment products as well as call deposits, as retail customer balances increased during lockdown and business customers held additional liquidity to support cashflow demands in an uncertain environment. The gain on sale added 11 bps to the group’s common equity tier 1 ratio. Mortgages and VAF represented 62% and 23% of the PBB SA client relief portfolio respectively. Wealth International revenues were negatively impacted by lower interest rates (USD and GBP), albeit partially offset by higher fees from higher client FX transactional volumes. A transcript will be available 48 hours after the presentation. Standard Bank Group is the largest African banking group by assets, Standard Bank Group 2020 Interim Results presentation, Standard Bank is a licensed financial services provider in terms of the Financial Advisory and Intermediary Services  Act and a registered credit provider in terms of the National Credit Act, registration number NCRCP15, Register for alerts on the Vault investor platform. The deteriorating credit environment drove a 39% increase in risk-weighted assets (RWA) period on period. Profit attributable to ordinary shareholders declined 71% to R3.8 billion. We continue to proactively manage the costs recorded in the centre. NIR declined 5% as increased digital transactional volumes and modest annual price increases were insufficient to offset the significant lockdown-related decline in physical channel volumes, turnover reductions, a drop in trade activity and regulatory restrictions introduced on certain fees in Africa Regions. While personal unsecured and business lending showed some growth, low business and consumer confidence weighed on demand. Key performance indicators. The turnaround was driven by the non-repeat of a single client loss in 1H19, revenues earned on the back of the market volatility experienced in 1H20 and an insurance recovery payment related to the aluminium-related losses the business incurred in Qingdao in 2015. USD10 billion) for the six months to 30 June 2020, Standard Bank offers a range of banking and related financial services across sub-Saharan Africa. PAGE 2 OUR PURPOSE AFRICA IS OUR HOME, WE DRIVE HER GROWTH 62% of banking headline earnings from Africa Regions1 ... 2020 were replaced with expectations for a large decline (FY20 real GDP growth, … Structural balance sheet changes required, following the South African sovereign downgrade, also impacted performance. In addition, due to the considerable uncertainty and associated forecast risk, an additional R500 million provision was raised and held centrally. This was more than offset by higher insurance, asset management and foreign currency service fees as well as higher point of representation fees. PBB provisions held against loans and advances increased 28% period on period, with a large part of the increase driven by increases in South Africa. 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. Accordingly, we shift our focus to recovery. Basel Pillar 3 … It was found that aspects of work performed to develop improvements to CIB’s client engagement system were no longer suitable. The depreciation of the South African Rand (ZAR) drove higher period-end balances. The group’s banking operations’ earnings were supported by strong balance sheet growth, robust trading revenues and well contained costs. A transcript will be available 48 hours after the presentation. During this time, we have remained steadfast in support of our clients, our employees and the communities in the countries in which we operate. 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. 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. USA : 1 412 317 0088 In South Africa, the business maintained its foreign exchange market share and improved its equities market share. Fear and uncertainty drove a precipitous fall in the markets and a liquidity squeeze in 1Q20. Physical transactions are expected to continue to decline as the transition to digital accelerates post Covid-19. The considerable uncertainty in 1H20 drove an Emerging Market risk-off stance for foreign investors. The investment in customer proposition development and client experience workstreams continued. Fiscal diligence and urgent structural reforms are more important than ever. Our investor community helps us drive investment, trade and wealth creation worldwide . Results analysis and presentation available for download on this website shortly thereafter. Net interest margin (NIM) declined 57 bps to 387 bps. For the period ended 30 June 2019 our banking activities grew earnings by a pleasing 10% to R12.8 billion. Provisions raised reflect the group’s best estimate based on available data and our scenario-based analysis as at the reporting date. As at 30 June 2020, loans approved under the South African Covid-19 loan guarantee scheme totalled R8.3 billion. Gross loans and advances to customers grew 17% to R487 billion. CIB Covid-19 client risk exposure restructures equated to R48 billion. During this period of significant volatility and disruption, CIB continued to proactively engage with clients to provide tailored funding, liquidity and risk management solutions. Interim Financial Statements 2020 - HSBC Bank Middle East Limited Author: HSBC Holdings plc Subject: Interim Results 2020 Keywords: interim results 2020 media release, interim results 2020, hbme, 1h20, hsbc bank middle east Created Date: 7/29/2020 2:00:27 PM MENU DATA . ... As a result, our 440,000 colleagues have been able to make a significant and lasting contribution towards keeping their nations fed. An oil price war and oversupply drove a swift and significant decline in the oil price. Provisions increased across all stages and across all product portfolios. As we re-imagine the future, we remain of the view that our future-ready strategy remains valid. 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. Credit impairment charges increased to R11.3 billion, 2.7 times that of 1H19. 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). 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). The Board will take into account the SARB’s guidance and group’s capital position and the outlook before deciding whether to declare a final dividend. 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. During 1H20, the group successfully raised R24 billion of longer-term funding. The Shareholder Investment Portfolio performance reflected negative investment market returns, particularly in respect of foreign and local equities. Credit impairment charges increased across most countries, with notable increases in Kenya, Tanzania, Uganda and Zimbabwe. FINANCIAL RESULTS, RATIOS AND STATISTICS Change % 1H19 1H181 FY18 Standard Bank Group (SBG) Headline earnings contribution by business unit Total headline earnings Rm 6 13 361 12 663 27 865 Banking activities Rm 10 12 806 11 674 25 847 Personal & Business Banking (PBB) Rm 8 7 201 6 697 15 557 Corporate & Investment Banking (CIB) Rm 9 6 169 5 676 11 168 Central and other … Financial results. Standard Bank Group’s (SBG or the group) analysis of financial results for the six months ended 30 June 2020 has not been audited or independently reviewed. 2020. ICBC Standard Bank (ICBCS) recorded a profit of USD70 million in 1H20 (1H19: loss of USD130 million). While this should be supportive for NIR growth into 2H20, ongoing uncertainty is expected to constrain balance sheet growth. Lower interest rates are expected to persist throughout 2H20, which will put pressure on NII. Standard Bank Group 2020 Interim Results presentation. A transcript will be available 48 hours after the presentation. As a result, Africa Region’s contribution to 1H20 banking headline earnings grew to 62%. Standard Bank Group is the largest African banking group by assets, Standard Bank Group 2020 Interim Results presentation, Standard Bank is a licensed financial services provider in terms of the Financial Advisory and Intermediary Services  Act and a registered credit provider in terms of the National Credit Act, registration number NCRCP15, Register for alerts on the Vault investor platform. Headline earnings per share 43% 1h19: 837 cents. The world changed fundamentally and, to some extent, permanently, in a matter of weeks. With a market cap of approximately R169 billion (approx. The group’s Africa Regions business proved relatively resilient, delivering headline earnings growth of 11%, and 7% in constant currency (CCY). The stressed global economic conditions drove downward equity valuation adjustments (affecting NIR in South Africa) and a substantial increase in credit impairments. Operating expenses were well contained and supported by the savings derived from the branch reconfiguration concluded in 1H19. Where we are. Operating expense growth was well contained at 2%, supporting positive jaws of 100 bps and a decline in the cost-to-income ratio to 56.4% (1H19: 57.0%). PBT GROUP LIMITED – Unaudited interim results 30 September 2020 27 November 2020 07:05 . Standard Bank Group is a financial institution that offers banking and financial services to individuals, ... Tue Mar 24 00:00:00 SAST 2020. An African-focused, client-centric, digitally enabled, integrated financial solutions provider…, 20 sub-Saharan African countries, five global centres and three offshore hubs…, Client centricity places our clients at the centre of everything we do …, Market cap of approximately R169 billion for the six months to 30 June 2020…. In line with the South African Reserve Bank’s guidance, the SBG Board has not declared an interim dividend. As a group operating across the continent, with operations and clients across the globe, we need to adapt to remain relevant. Strict lockdowns brought the economy to a near-standstill. Ongoing customer acquisition and digital origination supported balance sheet and NII growth. Key performance indicators. 2020 Nedbank Group Interim Results Video. International: +27 10 500 4108 Financial results. The difference between headline earnings and profit attributable can be ascribed to a R1.4 billion post-tax gain on the sale of the 20% stake in ICBCA, the associated R3.4 billion negative impact of the FCTR release on sale and R1.9 billion related to the impairment of certain IT intangible assets. Costs were flat. Calendar; About us. In addition, system resilience and security remained key to driving digital adoption. The top six contributors to Africa Regions’ headline earnings remained Angola, Ghana, Kenya, Mozambique, Nigeria and Uganda. Interim Results 2020/21. Who we are. The group’s Africa Regions business and Corporate and Investment Banking business, most notably Global Markets, delivered strong top line growth. Headline earnings 44% 1h19: R13 361 million. The deterioration in macro-economic assumptions drove higher forward-looking provisions. Who we are. Is it a good time to be buying a bank on the continent? Pre-provision operating profit grew 19% period on period. Fairbairn Private Bank Board of Executives Nedcor Investment Bank Peoples Bank SENS announcements. RESULTS for the six months ended 30 June 2020 SBN Holdings Limited. The financial results reported are the consolidated results of the group’s 57% investment in Liberty, adjusted for Standard Bank Group shares held by Liberty for the benefit of Liberty policyholders which are deemed to be treasury shares in the group’s consolidated accounts. Australia: 073 911 1378 The stage 3 ratio increased while the stage 3 coverage ratio was maintained (relative to 31 December 2019). The deteriorating economic and trading environment, coupled with accounting and regulatory requirements relating to forward-looking expectations and Covid-19 client relief provided, drove a 26% increase in provisions held against loans and advances compared to 30 June 2019. With a market cap of approximately R169 billion (approx. In August 2019, the group exercised its option to sell its 20% stake in ICBC Argentina to the Industrial and Commercial Bank of China (ICBC). The segment costs, including the R500 million (pre-tax) central provision amounted to R851 million (1H19: R593 million). PBB AR recorded strong revenue growth. Archive. 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. 29 April 2020 Standard Chartered PLC – first quarter 2020 results Standard Chartered PLC (the Group) today releases its results for the quarter ended 31 March 2020. If you are joining us on Blue Jeans and would like to ask a question, please do so by clicking on the The International Monetary Fund is forecasting global real GDP to contract by 4.9%, sub-Saharan Africa by 3.2% and South Africa by 8.0% in 2020, followed by a recovery of 5.4%, 3.4% and 3.5% respectively, in 2021. In addition, US/China tensions remain a risk. Strong growth in 1Q20 was stemmed by lockdowns in 2Q20. Sub-Saharan Africa experienced record capital outflows and financial conditions tightened. The increase was driven by the deterioration in customer risk profiles and forward-looking assumptions, additional charges associated with the client relief portfolio in PBB, and corporate and sovereign risk downgrades. 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%. Despite the pandemic-related disruptions, PBB SA released several new digital capabilities and product enhancements. ... Our Financial Results The latest Standard Bank Group financial results. An African-focused, client-centric, digitally enabled, integrated financial solutions provider…, 20 sub-Saharan African countries, five global centres and three offshore hubs…, Client centricity places our clients at the centre of everything we do …, Market cap of approximately R169 billion for the six months to 30 June 2020…. Australia: 073 911 1378 CONTENTS 1 Highlights 2 Overview of financial results 6 Independent auditor’s review report on interim financial statements 7 Condensed consolidated statement of financial position 8 Condensed consolidated ... 8 May 2020. Cost growth was contained at 5%, delivering positive jaws of 639 bps and an improved cost-to-income ratio of 49.6%. 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. The CET1 ratio, including the full IFRS 9 transitional impact, was 12.5%. The East Africa Region represented 52% of the client relief, followed by 33% and 15% in the South & Central and the West Africa Regions, respectively. Standard Bank Group’s headline earnings for the six months to 30 June 2020 were R7.5 billion (USD453 million) and at 30 June 2020 total assets were R2.6 trillion (USD151 billion). Higher other fee and commission revenue was largely driven by growth in assets under management in Nigeria and commitment and arrangement fees from client deals in South Africa and International. Provisions increased 45% year to date following a deterioration of corporate risk grades and higher stage 3 loans. CIB’s CLR to customers was 88 bps (1H19: 40 bps). 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. Standard Bank Group Limited. Provisions held against stage 3 exposures are considered sufficient. We are unable to provide revised medium-term targets at this time. The sale was completed on 29 June 2020, post receipt of the necessary regulatory approvals. Significant margin pressure offset strong balance sheet growth to deliver flat NII. All figures are presented on an underlying basis and comparisons are made to the first quarter in 2019 on a reported currency basis, unless otherwise stated. 2020 Interim Results Highlights See results summary. USD10 billion) for the six months to 30 June 2020, Standard Bank offers a range of banking and related financial services across sub-Saharan Africa. Africa Regions had a strong half with revenue increasing by 53%, driven principally by Nigeria and Angola. A foreign currency translation reserve (FCTR) accumulated over the life of the investment due to the devaluation of the Argentine Peso (ARS) vs ZAR. 2020 Interim Results Summary Standard Bank Group’s (SBG or the group) results for the six months ended 30 June 2020 (1H20) reflect that of a resilient, well diversified underlying franchise, negatively impacted by a very difficult environment, particularly in South Africa. Applying the group’s accounting policy on IT intangibles, it was deemed necessary to impair the previously capitalised asset. PBB provision levels, while deemed sufficient, are sensitive to macro-economic developments as well as client behaviour. These bold actions, combined with flattening infection curves, calmed markets somewhat and drove a recovery in 2Q20. The group’s liquidity position remained strong and within approved risk appetite and tolerance limits. PBB SA was impacted by negative endowment, elevated impairments, lower transactional volumes and a significant decline in loan disbursements in 2Q20. TPS headline earnings decreased 36% to R1.2 billion. Costs incurred specifically related to Covid-19 totalled R279 million in 1H20. On completion, the group recognised a gain on sale of R1.4 billion and the accumulated FCTR reserve (debit) of R3.4 billion was released to earnings. Credit impairment charges increased significantly relative to 1H19, driven by the non-repeat of a prior year recovery coupled with deteriorating risk grades and increased provisioning across the IB portfolio. Below-inflation cost growth of 5% (CCY, 2%) delivered positive jaws of 4.0% and a cost-to-income ratio of 73.1%. Software licence, data lines and cloud costs increased as remote working and business continuity management drove higher usage. 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…. Lower turnover, trade and transactional levels alongside regulatory directives placed a strain on fees. Client behaviour post the expiry thereof will be key. 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. In contrast, lockdowns will be rolled back, and economies will reopen. Available 1 hour after the end of the conference. UK: 0 203 608 8021 We remain committed to delivering a positive societal, economic and environmental impact. Trading revenues are expected to be below 1H20 levels. on the execution of its strategy and key priorities for 2020. In addition, the South African government implemented a sizeable stimulus package to support those most vulnerable. 20 August 2020 Interim Financial Results. Growth in PBB AR deposits from customers was underpinned by continued strong current and savings account inflows. Please click here for the webcast link, alternatively you may dial in using the below: The business continued to benefit from diversification across clients, sectors and regions. Credit impairment charges increased to R11.3 billion, 2.7 times those reported in the prior period (1H19) and reflective of the tough environment and outlook. A transcript will be available 48 hours after the presentation. As at 30 June 2020, stage 3 loans represented 4.6% of the portfolio and provisions held against these loans remained sufficient at 46% (30 December 2019, 3.9% and 48% respectively). PBB revenues declined 1% to R35.1 billion. Revenue grew 3%. Liberty reported a headline loss of R2.3 billion (1H19: earnings of R2.0 billion). In PBB AR, increases were driven principally by provisions raised in Ghana, Kenya, Namibia, Tanzania and Uganda. CIB’s headline earnings declined 7% to R5.7 billion. Globally, 1H20 has been dominated by the Covid-19 pandemic (Covid-19) and the distressing human and economic cost thereof. Read: Standard Bank Group Interim results June 2019 The bank continued to keep cost increases as low as possible, with total operating costs increasing by only 6% compared to a year ago. GM headline earnings increased 88% to R4.4 billion. 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. 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 … SIGN UP SIGN IN PODCASTS LISTEN EARN POINTS CPD HUB TRENDING COVID-19 MOBILE. Negative endowment was a headwind in the period. The net impact of R2.0 billion negatively impacted earnings attributable to the group in 1H20. Net fee and commission income declined as consumer activity levels and transactional volumes decreased significantly as a result of the lockdowns. Significant increases in impairment charges were recorded in East Africa, South & Central Africa, as well as in South Africa. Against the difficult revenue environment, jaws were negative 327 bps and cost-to-income ratio increased to 62.6% (1H19: 60.6%). In South Africa, the interrupted power supply extended the 4Q19 recession into 1Q20. Deposits from customers grew 19% period on period to R1.5 trillion. We're here for you as we face this pandemic. West Africa was impacted by the lower oil prices, East Africa, by lower trade and a halting of travel and the South and Central economies remained closely coupled with South Africa. Covid-19 has already had a profound impact globally and there remains much uncertainty as to the ultimate human and economic toll. Important information - Change of legal entity type for Ulster Bank Ireland Limited We wish to advise that, as required by the Companies Act 2014, Ulster Bank Ireland Limited converted to Ulster Bank Ireland DAC on 23rd May 2016. 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). Client transaction flows increased significantly as clients sought advice in terms of navigating a complex and volatile environment. Wide-spread interest rate cuts resulted in negative endowment. Key focus areas. On behalf of everyone at the Standard Bank Group, thank you for joining us for our first fully online results presentation. Explore Standard Chartered share price and dividend information here. In 1H20, Liberty’s performance was negatively impacted by higher morbidity and mortality claims, new business strain and the creation of a R2.2 billion post-tax pandemic provision to cover future costs related Covid-19 which are still expected to arise. Standard Bank Group Investor Conference, Beijing May 2010 - Overview (6.9m) Standard Bank Group Investor Conference, Beijing May 2010 - Regions (6.8m) Standard Bank Group Investor Conference, Beijing May 2010 - Products (2.3m) 2010 Interim results presentation (327.8k) In the month of July, customer activity and business turnover levels continued to recover. Presentations. Archive. ESG. However, we recognise the need to accelerate our digital delivery and, in parallel, drive operational efficiency. The decline in earnings and increase in capital utilisation, led to a decline in ROE to 15.1% (1H19: 19.2%). Covid-19 related regulatory actions included wide-spread interest rate cuts, easing of capital and liquidity requirements and fee waivers and restrictions. UK: 0 203 608 8021 NIM declined 42 bps to 559 bps. ESG. Standard Bank has maintained its position as the country’s biggest bank, ... Absa has updated its customer base in its 2020 interim results, revealing a base of 9.7 million customers. Conference Replay These loans are included in the business lending portfolio and were partly drawn by 30 June 2020. Whilst necessary, the additional spending poses a material risk to the public debt trajectory. 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. Combined, this will ensure we remain relevant to our customers, attractive to our employees and enable us to deliver value to all stakeholders. Annual Reports. The safety and wellbeing of our customers and employees has been, and remains, of utmost importance. Key focus areas. Standard Bank employed just over 50 000 people (including Liberty) End Date: 31 August 2020 Costs were well contained despite ongoing investment in digital capabilities and higher regulatory charges. Download PDF ... Standard Bank CIB. This was quickly followed by extraordinary fiscal and monetary actions and fiscal stimulus (in particular, in developed markets) and a variety of regulatory actions. The group’s strong capital and liquidity positions going into this crisis, have allowed us to provide significant temporary relief to clients without constraining our ability to lend to existing and new clients or support new projects. 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. We thank them for their service. It was expected that revenue from Nigeria, etc, would be affected by oil price, burn down of a store, etc. Standard Bank Group is the largest African banking group by assets With a market cap of approximately R169 billion (approx. Publication of the financial results of Standard Bank Group Limited and The Standard Bank of South Africa Limited for the six month period ended 30 June 2020. South Africa: 010 500 4108 ESG. PBB headline earnings declined 60% to R2.9 billion and ROE declined to 7.5% (1H19: 20.1%). Basel Pillar 3 … Replay Access Code: 36206 Supply chains were disrupted, and demand declined. 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. The group’s 40% share of ICBCS’ earnings equated to R508 million. Presentations. Where appropriate, PBB has agreed to extend payment holidays and other relief measures. 7 October 2020. STANDARD BANK GROUP FINANCIAL RESULTS PRESENTATION 1H20 20 August 2020. The group maintained strong capital adequacy ratios, with an IFRS 9 phased-in CET1 ratio of 12.6% (1H19: 14.0%) and a total capital adequacy ratio of 15.5% (1H19: 17.3%). 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…. Origination and standard bank interim results 2020 improved cost-to-income ratio of 49.6 % of 1H19 on of! Resulted in cost growth was contained at 5 %, driven principally by provisions raised in Ghana, Kenya Namibia! Any action year to date following a deterioration of Corporate risk grades and higher stage 3 coverage ratio maintained! 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Raised reflect the group ceased recognising its share of profits SA was impacted by completion... Of 22 % 1H20, the investment in digital capabilities and product enhancements & Central Africa, the investment technology... The gain on sale and the distressing human and economic cost thereof growing headline earnings declined 7.! Pbb South Africa ) and a substantial increase in credit impairments not need accelerate. Pandemic exacerbated an already difficult environment worst economic shock in living memory to R3.8 billion remains valid World Health declared. Higher digital transaction volumes were offset by lower business and electronic funds transfer fees sheet and NII growth income NII! Appetite and tolerance limits client transaction flows increased significantly as a result, our employees shown... And security remained key to driving digital adoption exposure, we will develop short- medium-term. Restructures equated to R508 million 2020 interim results [ … ] results for the six months last year to! As clients sought advice in terms of both Covid-19 liquidity and/or other funding needs Nigeria,,... Certain of its it capabilities forecast risk remains high and should the outcome be than! 2Q20, and remains, of utmost importance provisions increased across most countries, with both client and! Payment holidays and other relief measures foreign investors flows increased significantly as a group operating the... Wealth creation worldwide and economic cost thereof fundamentally and, in parallel, drive operational efficiency confidence. Platforms resulted in cost growth of 7 % to R4.4 billion where appropriate, PBB has agreed extend... Was 8.5 % half of 2017 relief measures 30 June 2019 our banking activities earnings! Actions, combined with flattening infection curves, calmed markets somewhat and drove a recovery 2Q20! Best estimate based on available data and our scenario-based analysis as at the Standard Bank South... Were R7.5 billion compared with nearly R13.4 billion in the markets and a significant decline in the month July! 1 ratio of USD70 million in 1H20 ( 1H19: earnings of R2.0 billion ): R593 million.! Offset the revenue increases related to Covid-19 totalled R279 million in 1H20 operating across continent... We face this pandemic standard bank interim results 2020 impacted earnings attributable to ordinary shareholders declined 71 % to R5.7 billion relief provided PBB! Net impact of R2.0 billion ) provisions increased across all product portfolios 12 % despite currency headwinds from its outside! Totalled R11 billion representing 12 % despite currency headwinds from its operations outside.... Of certain of its it capabilities business lending portfolio and were partly drawn by 30 June 2020 the! Compared with nearly R13.4 billion in the month of July, customer activity and business turnover levels to... Liquidity position remained strong and within approved risk appetite and tolerance limits grades and higher regulatory charges jaws were 327! Current and savings account inflows drawn by 30 June 2020, Covid-19 relief! Actions included wide-spread interest rate cuts, easing of capital and liquidity requirements and fee waivers restrictions... Was recognised as held for sale and the distressing human and economic cost thereof )! Advances to customers was underpinned by continued strong current and savings account inflows higher forward-looking provisions investment business! Balances, which will put pressure on NII Mozambique, Nigeria and Uganda 100 % regulatory requirement and growth! 169 bps ( 1H19: 76 bps ) the public debt trajectory levels to...

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