Financial performance shows growth

[Standard Bank Team]

Standard Bank Group produced a good set of results in the first half of 2013 despite the challenging South African and international environment. Our businesses across Africa is strong and at Standard Bank Group we continue to build on the foundation laid in previous years.

Africa remains the core of our growth strategy and Standard Bank Group continues to build franchises and invest in good people and robust operating systems for the long-term.

Results at a glance
• Headline earnings: R8 149 million, up 11%
• Headline earnings per share: 506 cents, up 10
• Dividends per ordinary share: 233 cents
• Capital adequacy: 12.3%
• Cost-to-income ratio: 57.3%
• Credit loss ratio: 1.17%
• Return on equity (ROE): 13.8%
• Net asset value (NAV) per share: 7 660 cents
• Total revenue up 13%
• Net interest income (NII) up 20%
• Non-interest revenue (NIR) up 7%
• Net fees and commission grew by 10%
• Credit impairments increased by 28%
• Operating expenses rose 10%
• Loans and advances up 8%.

For more see www.standardbank.com/reporting.