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SBPP ZAE000056339 (Second preference shares)
(âStandard Bankâ or âthe groupâ)
Voluntary trading update for the four months to 30 April 2021 and trading statement for the six-
month period ending 30 June 2021
Pre-close trading update
the global growth outlook are positive – the IMF upgraded its expectations for global gross domestic
product (GDP) growth in 2021 to 6%. The interest rate hiking cycle is expected to be delayed. Strong
global commodity demand and pricing are favourable for sub-Saharan Africa, and South Africa in
particular.
In South Africa, strong export prices have driven a trade surplus and the fiscal outlook has improved.
There are signs that an economic recovery is underway, and sentiment has improved. Inflation is