Overview of financial results - Standard Bank - Investor Relations

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Standard Bank Group Analysis of financial results for the six months ended 30 June 2013 Personal & Business Banking % of group headline earnings 1H13 1H12 Headline earnings R3 655 million R3 197 million Pe Bu Headline earnings change increased 14% increased 33% Headline earnings contribution 45% 44% 45 Return on equity 16.8% 18.0% Cost-to-income ratio 60.3% 61.5% Credit loss ratio 1.57% 1.32% External net loans and advances R519 billion R466 billion Corporate & Investment Banking % of group headline earnings 1H13 1H12 Headline earnings R3 515 million R2 803 million Pe Bu Headline earnings change increased 25% decreased 9% Headline earnings contribution 43% 38% 43 Return on equity 14.7% 12.6% Cost-to-income ratio 59.0% 63.3% Credit loss ratio 0.52% 0.46% External net loans and advances R431 billion R379 billion Liberty % of group headline earnings 1H13 1H12 11 Pe Bus Headline earnings as reported by Liberty R1 704 million R1 622 million Headline earnings attributable to the group R924 million R876 million Headline earnings contribution 11% 12% Return on equity 20.4% 22.7% Normalised equity value R34 billion R30 billion Third party funds under management R295 billion R272 billion 25
Group results in brief Segmental reporting Income statement analysis Balance sheet analysis Capital management Key banking legal entity information Other information and restatements Shareholder information Standard Bank Group Analysis of financial results for the six months ended 30 June 2013 Segmental income statement Personal & Business Banking Corporate & Investment Banking Central and other Change % 1H13 Rm 1H12 Rm Change % 1H13 Rm 1H12 Rm Change % 1H13 Rm 1H12 Rm Income from banking activities 15 23 016 20 079 15 13 957 12 158 (>100) (335) 61 Net interest income 20 13 079 10 932 23 5 436 4 415 (11) 397 447 Non-interest revenue 9 9 937 9 147 10 8 521 7 743 (90) (732) (386) Net fee and commission revenue 8 9 024 8 320 11 2 502 2 246 10 (497) (550) Trading revenue (>100) (17) (3) 10 5 258 4 785 (71) (193) (113) Other revenue 12 930 830 7 761 712 (>100) (42) 277 Income from investment management and life insurance activities Net insurance premiums Investment income and gains Management and service fee income Total income 15 23 016 20 079 15 13 957 12 158 (>100) (335) 61 Credit impairment charges 32 4 083 3 090 15 980 853 – 2 2 Specific credit impairments 36 3 907 2 880 2 847 829 – 1 1 Impaired loss 39 3 515 2 533 1 841 832 – 1 1 Discounting of expected recoveries 13 392 347 >100 6 (3) Portfolio credit impairments (16) 176 210 >100 133 24 – 1 1 Benefits due to policyholders Net insurance benefits and claims Fair value adjustment to policyholders’ liabilities under investment contracts Fair value adjustment on third party fund interests Income after credit impairment charges and policyholders’ benefits 11 18 933 16 989 15 12 977 11 305 (>100) (337) 59 Operating expenses in banking activities 12 13 961 12 413 7 8 241 7 724 (18) (1 073) (907) Staff costs 16 3 932 3 403 10 2 689 2 446 11 5 461 4 916 Other operating expenses 11 10 029 9 010 5 5 552 5 278 (12) (6 534) (5 823) Insurance activities Acquisition costs – insurance and investment contracts Other operating expenses Net income before equity accounted earnings 9 4 972 4 576 32 4 736 3 581 (24) 736 966 Share of profit from associates and joint ventures 44 154 107 (86) 5 37 >100 89 3 Net income before indirect taxation 9 5 126 4 683 31 4 741 3 618 (15) 825 969 Indirect taxation (5) 189 199 (19) 133 164 33 382 288 Profit before direct taxation 10 4 937 4 484 33 4 608 3 454 (35) 443 681 Direct taxation (0) 1 257 1 260 34 628 468 (49) 163 317 Profit for the period from continuing operations 14 3 680 3 224 33 3 980 2 986 (23) 280 364 Discontinued operation – Argentina (100) – 431 Profit for the period 14 3 680 3 224 33 3 980 2 986 (65) 280 795 Attributable to non-controlling interests (5) 20 21 >100 444 212 (67) 58 174 Attributable to preference shareholders (2) 173 177 Attributable to ordinary shareholders 14 3 660 3 203 27 3 536 2 774 (89) 49 444 Headline adjustable items 17 (5) (6) (>100) (21) 29 >100 6 (5) Headline earnings 14 3 655 3 197 25 3 515 2 803 (87) 55 439 ROE (%) 16.8 18.0 14.7 12.6 Net interest margin (%) 4.92 4.57 1.57 1.44 Credit loss ratio (%) 1.57 1.32 0.52 0.46 Cost-to-income ratio (%) 60.3 61.5 59.0 63.3 Number of employees (excluding Argentina) 3 21 605 20 898 (12) 2 431 2 774 0 18 897 18 836 Number of employees – Argentina (100) – 3 247 1 Includes adjustments on consolidation of Liberty Holdings into the group. Liberty 1 Group adjustments Group Normalised IFRS Banking activities Standard Bank IFRS Standard Bank Change % 1H13 Rm 1H12 Rm Change % 1H13 Rm 1H12 Rm Change % 1H13 Rm 1H12 Rm 1H13 Rm 1H12 Rm Change % 1H13 Rm 1H12 Rm 13 36 638 32 298 13 36 638 32 298 (97) (107) 14 36 541 32 191 20 18 912 15 794 20 18 912 15 794 (103) (106) 20 18 809 15 688 7 17 726 16 504 7 17 726 16 504 6 (1) 7 17 732 16 503 10 11 029 10 016 10 11 029 10 016 10 11 029 10 016 8 5 048 4 669 8 5 048 4 669 6 (1) 8 5 054 4 668 (9) 1 649 1 819 (9) 1 649 1 819 (9) 1 649 1 819 (4) 30 836 32 209 (4) 30 836 32 209 (1) (195) (4) 30 835 32 014 11 15 433 13 844 11 15 433 13 844 11 15 433 13 844 (18) 14 062 17 119 (18) 14 062 17 119 (1) (195) (17) 14 061 16 924 8 1 341 1 246 8 1 341 1 246 8 1 341 1 246 13 36 638 32 298 (4) 30 836 32 209 5 67 474 64 507 (98) (302) 5 67 376 64 205 28 5 065 3 945 28 5 065 3 945 28 5 065 3 945 28 4 755 3 710 28 4 755 3 710 28 4 755 3 710 29 4 357 3 366 29 4 357 3 366 29 4 357 3 366 16 398 344 16 398 344 16 398 344 32 310 235 32 310 235 32 310 235 (8) 21 593 23 428 (8) 21 593 23 428 (8) 21 593 23 428 (14) 15 399 17 972 (14) 15 399 17 972 (14) 15 399 17 972 (27) 2 754 3 773 (27) 2 754 3 773 (27) 2 754 3 773 >100 3 440 1 683 >100 3 440 1 683 >100 3 440 1 683 11 31 573 28 353 5 9 243 8 781 10 40 816 37 134 (98) (302) 11 40 718 36 832 10 21 129 19 230 10 21 129 19 230 10 21 129 19 230 12 12 082 10 765 12 12 082 10 765 12 12 082 10 765 7 9 047 8 465 7 9 047 8 465 7 9 047 8 465 7 6 200 5 779 7 6 200 5 779 7 6 200 5 779 13 2 013 1 778 13 2 013 1 778 13 2 013 1 778 5 4 187 4 001 5 4 187 4 001 5 4 187 4 001 14 10 444 9 123 1 3 043 3 002 11 13 487 12 125 (98) (302) 13 13 389 11 823 69 248 147 (37) 12 19 57 260 166 57 260 166 15 10 692 9 270 1 3 055 3 021 12 13 747 12 291 (98) (302) 14 13 649 11 989 8 704 651 11 188 170 9 892 821 9 892 821 16 9 988 8 619 1 2 867 2 851 12 12 855 11 470 (98) (302) 14 12 757 11 168 0 2 048 2 045 (6) 1 041 1 109 (2) 3 089 3 154 4 1 (2) 3 093 3 155 21 7 940 6 574 5 1 826 1 742 17 9 766 8 316 (102) (303) 21 9 664 8 013 (100) – 431 (100) – 431 (100) – 431 13 7 940 7 005 5 1 826 1 742 12 9 766 8 747 (102) (303) 14 9 664 8 444 28 522 407 4 902 867 12 1 424 1 274 (2) (89) 20 1 422 1 185 (2) 173 177 (2) 173 177 3 (9) 5 176 168 13 7 245 6 421 6 924 875 12 8 169 7 296 (103) (205) 14 8 066 7 091 (>100) (20) 18 (100) – 1 (>100) (20) 19 (>100) (20) 19 12 7 225 6 439 5 924 876 11 8 149 7 315 (103) (205) 13 8 046 7 110 13.2 13.6 20.4 22.7 13.8 14.3 14.0 14.4 3.11 2.91 3.11 2.91 3.09 2.90 1.17 0.98 1.17 0.98 1.17 0.98 57.3 59.3 57.3 59.3 57.4 59.5 1 42 933 42 508 5 5 797 5 497 2 48 730 48 005 2 48 730 48 005 (100) – 3 247 (100) – 3 247 (100) – 3 247 26 27
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Shareholder information Analysis of
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