Financial highlights
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Standard Bank Group at a glance 2024 interim results
Market capitalisation
R347 billion
Total assets
R3.1 trillion
Total equity
R280 billion
Assets under management
R1.5 trillion
Overview
Standard Bank Group is listed on the JSE and A2X, with share code SBK, and the Namibian Stock Exchange, share code SNB. As at 30 June 2024, the group’s market capitalisation was R347 billion (USD19 billion).The group's headline earnings for the period ended 30 June 2024 were R22.0 billion (USD1.2billion) and total assets were R3.1 trillion (USD170 billion).
As at 30 June 2024, Standard Bank had over 19.4 million clients, employed over 50 000 people and are just under 1 200 branches / points of representation and approximately 5 500 ATMs on the African continent.
Balance sheet
| Jun 2024 (ZAR bn) |
Jun 2023 (ZAR bn) |
Change (%) |
|
|---|---|---|---|
| Gross loans and advances | 1 480 | 1 436 | 3 |
| Total assets | 3 100 | 3 029 | 2 |
| Deposits | 2 018 | 1 976 | 2 |
| Shareholders equity | 241 | 231 | 4 |
Income statement
| 1H24 (ZAR m) |
1H23 (ZAR m) |
Change (%) |
|
|---|---|---|---|
| Revenues | 77 351 | 76 286 | 1 |
| Operating expenses | (38 406) | (38 080) | 1 |
| Pre-provision operating profit | 38 945 | 38 206 | 2 |
| Credit impairment charges | (7 979) | (9 389) | -15 |
| Banking headline earnings | 19 792 | 18 720 | 6 |
| Insurance and Asset Management headline earnings | 1 618 | 1 362 | 19 |
| ICBCS earnings attributable (40% stake) | 596 | 1 149 | (48) |
| Group headline earnings | 22 006 | 21 231 | 4 |
Per share breakdown
| 1H24 (ZAR) |
1H23 (ZAR) |
Change (%) |
|
|---|---|---|---|
| Headline earnings per share | 1 329 | 1 281 | 4 |
| Dividend per share | 744 | 690 | 8 |
Ratios
| 1H24 | 1H23 | |
|---|---|---|
| Cost-to-income ratio | 49.7 % | 49.9 % |
| Credit loss ratio | 92 bps | 109 bps |
| ROE | 18.5 % | 18.9 % |
| Dividend payout ratio | 56 % | 54 % |
| Common equity tier 1 ratio | 13.5 % | 13.4 % |
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Balance sheet
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Income statement
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Per share breakdown
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Ratios
| Jun 2024 (ZAR bn) |
Jun 2023 (ZAR bn) |
Change (%) |
|
|---|---|---|---|
| Gross loans and advances | 1 480 | 1 436 | 3 |
| Total assets | 3 100 | 3 029 | 2 |
| Deposits | 2 018 | 1 976 | 2 |
| Shareholders equity | 241 | 231 | 4 |
| 1H24 (ZAR m) |
1H23 (ZAR m) |
Change (%) |
|
|---|---|---|---|
| Revenues | 77 351 | 76 286 | 1 |
| Operating expenses | (38 406) | (38 080) | 1 |
| Pre-provision operating profit | 38 945 | 38 206 | 2 |
| Credit impairment charges | (7 979) | (9 389) | -15 |
| Banking headline earnings | 19 792 | 18 720 | 6 |
| Insurance and Asset Management headline earnings | 1 618 | 1 362 | 19 |
| ICBCS earnings attributable (40% stake) | 596 | 1 149 | (48) |
| Group headline earnings | 22 006 | 21 231 | 4 |
| 1H24 (ZAR) |
1H23 (ZAR) |
Change (%) |
|
|---|---|---|---|
| Headline earnings per share | 1 329 | 1 281 | 4 |
| Dividend per share | 744 | 690 | 8 |
| 1H24 | 1H23 | |
|---|---|---|
| Cost-to-income ratio | 49.7 % | 49.9 % |
| Credit loss ratio | 92 bps | 109 bps |
| ROE | 18.5 % | 18.9 % |
| Dividend payout ratio | 56 % | 54 % |
| Common equity tier 1 ratio | 13.5 % | 13.4 % |
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