OREANDA-NEWS. April 24, 2015.

Standard Bank Group Limited

Registration No. 1969/017128/06

Incorporated in the Republic of South Africa

JSE share code: SBK

ISIN: ZAE000109815

NSX share code: SNB

NSX share code: SNB ZAE000109815

SBKP ZAE000038881 (First preference shares)

SBPP ZAE000056339 (Second preference shares)

JSE bond codes: SBS, SBK, SBN, SBC, SBAG1, SBAS1, SBAPL1, SBAPD1, SBAE, SBACRN, SBAWHT, SBACOP, SBAOIL, SBACI, SSN series and CLN series (all JSE listed bonds issued in terms of The Standard Bank of South Africa Limited's Domestic Medium Term Note Programme and Structured Note Programme (formerly the Credit Linked Note Programme))

("Standard Bank Group" or "the group")


Financial information provided to the Industrial and Commercial Bank of China Limited ("ICBC")

On a quarterly basis Standard Bank Group discloses to ICBC sufficient information to enable ICBC to equity account the group's results. Accordingly, the following consolidated financial information, prepared on an International Financial Reporting Standards basis, is being provided to ICBC for the three months ended 31 March 2015.

Statement of changes in ordinary shareholders' equity for the three months ended 31 March 2015 

Rm

Balance at 1 January 2015

Earnings attributable to ordinary shareholders

Other movements for the period

Balance at

31 March 2015

Ordinary share capital

162

162

Ordinary share premium

17 905

17 905

Foreign currency translation reserve (FCTR)

7 359

(3 588)

3 771

FCTR for the period

7 359

466

7 825

FCTR release to income statement

(4 054)

(4 054)

Foreign currency net investment and cash flow hedging reserve

52

1 (444)

(392)

Retained earnings

110 504

2 8 289

3 (5 656)

113 137

Empowerment reserve and treasury shares

 (2 570)

4 1 179

(1 391)

Other

3 573

345

3 918

Total ordinary shareholders' equity

136 985

8 289

(8 164)

137 110

 

1 Primarily comprises a release to the income statement relating to the disposal of the group's 60% controlling interest in Standard Bank Plc (SB Plc) on 1 February 2015.

2   Included in earnings attributable to ordinary shareholders is approximately R3.1 billion of earnings excluded from headline earnings, the majority of which relates to the disposal of the group's 60% controlling interest in SB Plc. This primarily comprises the release of R4.1 billion of the group's FCTR to the income statement, which relates to historical foreign currency translation gains recognised on SB Plc's net asset value, less the recognition of the remaining unrecognised loss on the disposal.

3 Primarily comprises the ordinary dividends declared in March 2015.

4 The reduction of the negative empowerment reserve is primarily due to the repayment of funding by Tutuwa participants following the expiry of the lock-in period on 31 December 2014.