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STANDARD BANK GROUP LIMITED – Voluntary trading update and trading statement - SENS


SBPP ZAE000056339 (Second preference shares)
(“Standard Bank” or “the group”)
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 ....

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Investegate |Standard Bank Group Announcements | Standard Bank Group: 1Q21 ICBC Disclosure and operating update


Primarily comprises the ordinary dividends declared in March 2021.
# The increase in other primarily relates to an increase in the statutory credit risk reserve, which has an equal and opposite reduction in retained earnings.
 
 
The group s performance in 1Q21, relative to the three months to March 2020 ( 1Q20 or the comparative period ), needs to be considered in the context of Covid-19. January and February 2020 were largely pre-Covid-19 . The group s performance in March 2020 was positively impacted by market volatility in terms of trading revenue but this was offset by the negative impact of the decline in market valuations, particularly Liberty Holdings Limited s ( Liberty ) Shareholder Investment Portfolio, and the IFRS 9 driven increase in credit charges based on the portfolio performance and the forward-looking assumptions used at the time. ....

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