Overview of financial results - Standard Bank - Investor Relations

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