standard bank interim results 2020

Strict lockdowns brought the economy to a near-standstill. The Standard Bank of South Africa Limited (Reg. Fiscal diligence and urgent structural reforms are more important than ever. Software licence, data lines and cloud costs increased as remote working and business continuity management drove higher usage. Operating expenses were well contained and supported by the savings derived from the branch reconfiguration concluded in 1H19. Interim Results. Standard Bank Group, one of SA's big four banks, is announcing its 2020 interim results on Thursday August 20, with a live webcast from 10am … Financial results. A transcript will be available 48 hours after the presentation. CONTENTS 1 Highlights 2 Overview of financial results 6 Independent auditor’s review report on interim financial statements 7 Condensed consolidated statement of financial position 8 Condensed consolidated ... 8 May 2020. The International Monetary Fund is forecasting global real GDP to contract by 4.9%, sub-Saharan Africa by 3.2% and South Africa by 8.0% in 2020, followed by a recovery of 5.4%, 3.4% and 3.5% respectively, in 2021. Pre-provision operating profit grew 19% period on period. A foreign currency translation reserve (FCTR) accumulated over the life of the investment due to the devaluation of the Argentine Peso (ARS) vs ZAR. Our offshore operations in the Isle of Man and Jersey continued to provide the group with access to hard currency funding. 2020. This change will not affect any contracts or arrangements you have with the Bank and you do not need to take any action. International: +27 10 500 4108 Transactional Products & Services (TPS) revenues were negatively impacted by margin pressure as well as adverse regulatory requirements, in particular in Nigeria. CIB’s headline earnings declined 7% to R5.7 billion. Headline earnings 44% 1h19: R13 361 million. End Date: 31 August 2020 Integrated, governance and remuneration reports, financial statements and notices to shareholders…, The full suite of financial results and reports…, Our most recent and archived presentations…, Quarterly disclosures in accordance with the Basel Committee on Banking Supervision…, How we impact on the societies, economies and environments in which we operate…, Details on the forthcoming annual general meeting…, Details of the sell-side analysts that cover the Standard Bank Group…, An ADR is a negotiable United States (US) certificate representing ownership of shares in a non-US corporation…. From a sector perspective, the Consumer (primarily Retail and Hospitality), Industrials, Oil & Gas, Power & Infrastructure and Real Estate sectors were most impacted. PBT GROUP LIMITED – Unaudited interim results 30 September 2020 27 November 2020 07:05 . It was found that aspects of work performed to develop improvements to CIB’s client engagement system were no longer suitable. Underlying client growth has continued, with both client lending and discretionary assets under management increasing period on period. The group maintained strong capital adequacy ratios, with an IFRS 9 phased-in CET1 ratio of 12.6% (1H19: 14.0%) and a total capital adequacy ratio of 15.5% (1H19: 17.3%). Live cross to Standard Bank’s interim results presentation. For the period ended 30 June 2019 our banking activities grew earnings by a pleasing 10% to R12.8 billion. The stressed global economic conditions drove downward equity valuation adjustments (affecting NIR in South Africa) and a substantial increase in credit impairments. Credit impairment charges increased significantly as certain older Africa Regions exposures moved into default. The group’s banking operations’ earnings were supported by strong balance sheet growth, robust trading revenues and well contained costs. Conference Replay South Africa’s headline earnings declined 72% as the pandemic exacerbated an already difficult environment. Physical transactions are expected to continue to decline as the transition to digital accelerates post Covid-19. ESG. Fear and uncertainty drove a precipitous fall in the markets and a liquidity squeeze in 1Q20. Gross written premium increased as the portfolio tilt shifted towards higher cover and premium insurance products. The investment in customer proposition development and client experience workstreams continued. The depreciation of the South African Rand (ZAR) drove higher period-end balances. on the execution of its strategy and key priorities for 2020. Cost growth was contained at 5%, delivering positive jaws of 639 bps and an improved cost-to-income ratio of 49.6%. Standard Bank Group is a financial institution that offers banking and financial services to individuals, ... Tue Mar 24 00:00:00 SAST 2020. Credit impairment charges increased across most countries, with notable increases in Kenya, Tanzania, Uganda and Zimbabwe. In line with the South African Reserve Bank’s guidance, the SBG Board has not declared an interim dividend. Standard Bank Group’s (SBG or the group) results for the six months ended 30 June 2020 (1H20) reflect that of a resilient, well diversified underlying franchise, negatively impacted by a very difficult environment, particularly in South Africa. Within PBB South Africa (PBB SA), lockdowns severely constrained disbursements in 2Q20, and in turn, portfolio growth in 1H20. The group’s Africa Regions business and Corporate and Investment Banking business, most notably Global Markets, delivered strong top line growth. The difference between headline earnings and profit attributable can be ascribed to a R1.4 billion post-tax gain on the sale of the 20% stake in ICBCA, the associated R3.4 billion negative impact of the FCTR release on sale and R1.9 billion related to the impairment of certain IT intangible assets. We are unable to provide revised medium-term targets at this time. During 1H20, the group successfully raised R24 billion of longer-term funding. Annual Reports. PBB AR recorded strong revenue growth. Calendar; About us. Net fee and commission income declined as consumer activity levels and transactional volumes decreased significantly as a result of the lockdowns. The top six contributors to Africa Regions’ headline earnings remained Angola, Ghana, Kenya, Mozambique, Nigeria and Uganda. Net interest margin (NIM) declined 57 bps to 387 bps. Financial results Standard Bank continues to produce resilient financial results in challenging environments, ensuring that you, our client, benefit from our Africa-focused strategy and our strong balance sheet to support your business growth goals with the African continent and globally. Financial results. On behalf of everyone at the Standard Bank Group, thank you for joining us for our first fully online results presentation. Annual Reports. During this time, we have remained steadfast in support of our clients, our employees and the communities in the countries in which we operate. Structural balance sheet changes required, following the South African sovereign downgrade, also impacted performance. 2019 ANNUAL RESULTS GROUP Authorised financial services and registered credit provider (NCRCP15). We thank them for their service. While personal unsecured and business lending showed some growth, low business and consumer confidence weighed on demand. CIB’s capabilities and reach remains attractive to domestic clients and multi-national corporates already operating, seeking to operate or seeking to expand on the continent. The group maintained its net stable funding ratio in excess of the 100% regulatory requirement. UK: 0 203 608 8021 Lower interest rates are expected to persist throughout 2H20, which will put pressure on NII. 20 August 2020 Interim Financial Results. Standard Bank Group is the largest African banking group by assets With a market cap of approximately R169 billion (approx. SIGN UP SIGN IN PODCASTS LISTEN EARN POINTS CPD HUB TRENDING COVID-19 MOBILE. PBB headline earnings declined 60% to R2.9 billion and ROE declined to 7.5% (1H19: 20.1%). For more on the interim results, visit reporting.standardbank.com. The condensed financial results of Standard Bank Group Limited (Standard Bank) for the six month period ended 30 June 2020 have been published and submitted to … Standard Bank Group Investor Conference, Beijing May 2010 - Overview (6.9m) Standard Bank Group Investor Conference, Beijing May 2010 - Regions (6.8m) Standard Bank Group Investor Conference, Beijing May 2010 - Products (2.3m) 2010 Interim results presentation (327.8k) Standard Bank Group 2020 Interim Results presentation. In contrast, lockdowns will be rolled back, and economies will reopen. Deposits from customers grew 19% period on period to R1.5 trillion. GROUP RESULTS ... Namibia SBN Holdings Limited’s full announcement containing the interim results announcement for the six months ended 30 June 2020 Registration number: 2006/306 Country of incorporation: Republic of Namibia ... is available for viewing on the Standard Bank website. The business continued to benefit from diversification across clients, sectors and regions. Presentations. Where we have significant exposure, we will develop short- and medium-term actions to manage this risk. ICBC Standard Bank (ICBCS) recorded a profit of USD70 million in 1H20 (1H19: loss of USD130 million). As at 30 June 2020, stage 3 loans represented 4.6% of the portfolio and provisions held against these loans remained sufficient at 46% (30 December 2019, 3.9% and 48% respectively). Integrated, governance and remuneration reports, financial statements and notices to shareholders…, The full suite of financial results and reports…, Our most recent and archived presentations…, Quarterly disclosures in accordance with the Basel Committee on Banking Supervision…, How we impact on the societies, economies and environments in which we operate…, Details on the forthcoming annual general meeting…, Details of the sell-side analysts that cover the Standard Bank Group…, An ADR is a negotiable United States (US) certificate representing ownership of shares in a non-US corporation…. Available 1 hour after the end of the conference. Deeds and vehicle registration offices were closed in April and the first half of May, stalling mortgage and vehicle and asset finance (VAF) portfolio growth. STANDARD BANK GROUP 7 TCFD Interim Report 2020 Impact of climate-related risks and opportunities on business, strategy and financial planning Standard Bank has undertaken a preliminary assessment of high carbon emitting sectors in our portfolio. Net interest income (NII) was flat as balance sheet growth was offset by margin compression. Our investor community helps us drive investment, trade and wealth creation worldwide . ESG. ... Our Financial Results The latest Standard Bank Group financial results. CIB deposit growth was underpinned by higher corporate current account balances as market uncertainty led clients to reassess planned capital investments and hold larger cash balances. Higher digital transaction volumes were offset by lower business and electronic funds transfer fees. A transcript will be available 48 hours after the presentation. This was more than offset by higher insurance, asset management and foreign currency service fees as well as higher point of representation fees. 10h00 SA time Who we are. As at 30 June 2020, Covid-19 client relief provided by PBB SA totalled R107 billion representing 18% of the PBB SA portfolio. Covid-19 has led to the worst economic shock in living memory. The poor economic outlook and declining inflation trend paved the way for cumulative interest rate cuts equating to 275 bps in the period. Sub-Saharan Africa experienced record capital outflows and financial conditions tightened. An African-focused, client-centric, digitally enabled, integrated financial solutions provider…, 20 sub-Saharan African countries, five global centres and three offshore hubs…, Client centricity places our clients at the centre of everything we do …, Market cap of approximately R169 billion for the six months to 30 June 2020…. Provisions increased across all stages and across all product portfolios. Significant margin pressure offset strong balance sheet growth to deliver flat NII. Below-inflation cost growth of 5% (CCY, 2%) delivered positive jaws of 4.0% and a cost-to-income ratio of 73.1%. Standard Bank Group’s headline earnings for the six months to 30 June 2020 were R7.5 billion (USD453 million) and at 30 June 2020 total assets were R2.6 trillion (USD151 billion). The group credit loss ratio (CLR) increased to 169 bps (1H19: 76 bps). Covid-19 related regulatory actions included wide-spread interest rate cuts, easing of capital and liquidity requirements and fee waivers and restrictions. At the time of the change of control in 2012, the ARS/ZAR rate was c.0.5 and by the completion date it was c.4. Deposits totalled GBP5.2 billion as at 30 June 2020. The gain on sale added 11 bps to the group’s common equity tier 1 ratio. During this period of significant volatility and disruption, CIB continued to proactively engage with clients to provide tailored funding, liquidity and risk management solutions. During the period, the group performed a review of certain of its IT capabilities. This was partially offset by the continued investment in client experience and digitisation workstreams, as well as certain Covid-19 specific expenses, for example front-line staff and customer safety measures. PBB revenues declined 1% to R35.1 billion. Replay Access Code: 36206 Provisions raised reflect the group’s best estimate based on available data and our scenario-based analysis as at the reporting date. Where we are. Client behaviour post the expiry thereof will be key. Calendar; About us. If you are joining us on Blue Jeans and would like to ask a question, please do so by clicking on the Against the difficult revenue environment, jaws were negative 327 bps and cost-to-income ratio increased to 62.6% (1H19: 60.6%). Standard Bank Group 2020 Interim Results presentation. With a market cap of approximately R169 billion (approx. 2020 Nedbank Group Interim Results Video. FINANCIAL RESULTS, RATIOS AND STATISTICS Change % 1H19 1H181 FY18 Standard Bank Group (SBG) Headline earnings contribution by business unit Total headline earnings Rm 6 13 361 12 663 27 865 Banking activities Rm 10 12 806 11 674 25 847 Personal & Business Banking (PBB) Rm 8 7 201 6 697 15 557 Corporate & Investment Banking (CIB) Rm 9 6 169 5 676 11 168 Central and other … This was quickly followed by extraordinary fiscal and monetary actions and fiscal stimulus (in particular, in developed markets) and a variety of regulatory actions. Gross loans and advances to customers grew 17% to R487 billion. PBB provisions held against loans and advances increased 28% period on period, with a large part of the increase driven by increases in South Africa. Provisions held against stage 3 exposures are considered sufficient. While current CIB provision levels are deemed appropriate, CIB exposures, by their nature, are lumpy and additional provisions may be required if ratings deteriorate further and/or individual clients experience difficulties. Positive jaws of 100 bps supported pre-provision operating profit, which grew 4% period on period to R24.3 billion. UK: 0 203 608 8021 USD10 billion) for the six months to 30 June 2020, Standard Bank offers a range of banking and related financial services across sub-Saharan Africa. MENU DATA . ICBC Standard Bank | Unaudited interim results 6 Capital resources At 30 June 2020, the group's equity capital resources amounted to US$1,236.0 million (30 June 2019: US$1,124.4 million) and total capital resources qualifying for prudential purposes were US$1,355.3 million (30 June 2019: US$1,258.0 million). 2020 Interim Results Highlights See results summary. Market conditions led to declines in equity investment portfolio valuations which negatively impacted other revenue. Consequently, banking operations reported headline earnings of R7.7 billion, down 40% on 1H19, and a return on equity (ROE) of 9.5%. To accommodate the lockdown requirements and protect our people, certain branches were temporarily closed and teams were reorganised to maintain the delivery of key functions to our clients. Supply chains were disrupted, and demand declined. Lockdowns encouraged customers to transition to our digital channels. Credit impairment charges increased to R8.6 billion (1H19: R3.7 billion), 2.3 times 1H19 charges. The safety and wellbeing of our customers and employees has been, and remains, of utmost importance. PBB customer deposits grew 16%, with strong growth in savings and investment products as well as call deposits, as retail customer balances increased during lockdown and business customers held additional liquidity to support cashflow demands in an uncertain environment. We continue to proactively manage the costs recorded in the centre. The turnaround was driven by the non-repeat of a single client loss in 1H19, revenues earned on the back of the market volatility experienced in 1H20 and an insurance recovery payment related to the aluminium-related losses the business incurred in Qingdao in 2015. Standard Bank Group Limited. Where appropriate, PBB has agreed to extend payment holidays and other relief measures. Dial-in SA: 010 500 4108 ESG. In August 2019, the group exercised its option to sell its 20% stake in ICBC Argentina to the Industrial and Commercial Bank of China (ICBC). And, in doing so, we will also deliver on our purpose of driving Africa’s growth. Basel Pillar 3 … NIM declined 42 bps to 559 bps. Key focus areas. Fairbairn Private Bank Board of Executives Nedcor Investment Bank Peoples Bank SENS announcements. With a market cap of approximately R169 billion (approx. As at 30 June 2020, Covid-19 client relief provided by PBB AR totalled R11 billion representing 12% of the PBB AR portfolio. Explore Standard Chartered share price and dividend information here. Liberty reported a headline loss of R2.3 billion (1H19: earnings of R2.0 billion). Our 3Q 2020 results were released at 04:15 UKT / 12:15 HKT on Thursday 29 October 2020 on our website. Interim Financial Statements 2020 - HSBC Bank Middle East Limited Author: HSBC Holdings plc Subject: Interim Results 2020 Keywords: interim results 2020 media release, interim results 2020, hbme, 1h20, hsbc bank middle east Created Date: 7/29/2020 2:00:27 PM Investment in technology platforms resulted in cost growth of 7%. Important information - Change of legal entity type for Ulster Bank Ireland Limited We wish to advise that, as required by the Companies Act 2014, Ulster Bank Ireland Limited converted to Ulster Bank Ireland DAC on 23rd May 2016. Growth in PBB AR deposits from customers was underpinned by continued strong current and savings account inflows. The group’s liquidity position remained strong and within approved risk appetite and tolerance limits. The world changed fundamentally and, to some extent, permanently, in a matter of weeks. IB headline earnings declined 91% to R181 million. The East Africa Region represented 52% of the client relief, followed by 33% and 15% in the South & Central and the West Africa Regions, respectively. The CET1 ratio, including the full IFRS 9 transitional impact, was 12.5%. As at 30 June 2020, loans approved under the South African Covid-19 loan guarantee scheme totalled R8.3 billion. ESG. Standard Bank Group's Financial Director Arno Daehnke, gives a snapshot of the group's financial results for the first half of 2017. Leveraging the group’s strong capital position, we will continue to work with our individual, business and corporate clients, in a responsible manner, to find suitable solutions to enable them to participate and support the much-needed transition to the recovery phase. Client transaction flows increased significantly as clients sought advice in terms of navigating a complex and volatile environment. CLR increased to 231 bps (1H19: 105 bps). The group’s 40% share of ICBCS’ earnings equated to R508 million. An African-focused, client-centric, digitally enabled, integrated financial solutions provider…, 20 sub-Saharan African countries, five global centres and three offshore hubs…, Client centricity places our clients at the centre of everything we do …, Market cap of approximately R169 billion for the six months to 30 June 2020…. STANDARD BANK GROUP FINANCIAL RESULTS PRESENTATION 1H20 20 August 2020. USA : 1 412 317 0088 USD10 billion) for the six months to 30 June 2020, Standard Bank offers a range of banking and related financial services across sub-Saharan Africa. In addition, the South African government implemented a sizeable stimulus package to support those most vulnerable. Standard Bank’s interim results […] The group also issued R5.5 billion Basel III compliant Tier 2 capital, the proceeds of which were invested in The Standard Bank of South Africa. The decline in earnings and increase in capital utilisation, led to a decline in ROE to 15.1% (1H19: 19.2%). Prospects of a modest economic recovery in 2020 were replaced with expectations for a large decline (Standard Bank Research: South Africa’s real GDP is forecast to decline 8.5% in 2020 followed by a 4.5% recovery in 2021). As we re-imagine the future, we remain of the view that our future-ready strategy remains valid. Costs were well contained despite ongoing investment in digital capabilities and higher regulatory charges. The gain on sale and the FCTR impact are both outside of headline earnings and therefore, did not impact group headline earnings. Despite the pandemic-related disruptions, PBB SA released several new digital capabilities and product enhancements. Read: Standard Bank Group Interim results June 2019 The bank continued to keep cost increases as low as possible, with total operating costs increasing by only 6% compared to a year ago. Covid-19 has already had a profound impact globally and there remains much uncertainty as to the ultimate human and economic toll. Credit impairment charges increased to R11.3 billion, 2.7 times that of 1H19. PBB Africa Regions (PBB AR) gross loans and advances grew 20% to R89 billion, supported by ongoing focus on client ecosystem origination, digital client onboarding and digital disbursements, as well as a weaker ZAR period on period. In South Africa, the interrupted power supply extended the 4Q19 recession into 1Q20. Archive. Strong growth in 1Q20 was stemmed by lockdowns in 2Q20. Globally, 1H20 has been dominated by the Covid-19 pandemic (Covid-19) and the distressing human and economic cost thereof. Archive. Wealth International revenues were negatively impacted by lower interest rates (USD and GBP), albeit partially offset by higher fees from higher client FX transactional volumes. In addition, system resilience and security remained key to driving digital adoption. We remain committed to delivering a positive societal, economic and environmental impact. The release of the FCTR balance to earnings was a movement between reserves and therefore did not impact the net asset value of the group. The increase was driven by the deterioration in customer risk profiles and forward-looking assumptions, additional charges associated with the client relief portfolio in PBB, and corporate and sovereign risk downgrades. The group’s capital position remained robust, with a common equity tier 1 capital adequacy (CET1) ratio as at 30 June 2020 of 12.6%, well in excess of the regulatory minimum of 7%. Combined, this will ensure we remain relevant to our customers, attractive to our employees and enable us to deliver value to all stakeholders. In addition, US/China tensions remain a risk. A partial resumption of economic activity, following the relaxation of the lockdown regulations in the second half of May and in June, resulted in a partial recovery of transactional volumes and values and, in turn, NIR by the end of the period. Wide-spread interest rate cuts resulted in negative endowment. ... As a result, our 440,000 colleagues have been able to make a significant and lasting contribution towards keeping their nations fed. Despite the obvious risks, our employees have shown great fortitude and commitment as they have continued to support and service our customers. In addition, due to the considerable uncertainty and associated forecast risk, an additional R500 million provision was raised and held centrally. The segment costs, including the R500 million (pre-tax) central provision amounted to R851 million (1H19: R593 million). Negative endowment, and related margin compression, more than offset the revenue increases related to balance sheet growth. Standard Bank had a good first half, growing headline earnings by 12% despite currency headwinds from its operations outside SA. Staff costs were up 1% as annual salary increases were offset by lower headcount and performance-related incentives. From September 2019, the investment was recognised as held for sale and the group ceased recognising its share of profits. While the pandemic has created distress and anxiety for many people, it has also created new opportunities, specifically the opportunity to accelerate change. Headline earnings per share 43% 1h19: 837 cents. Theeparation pr of the financial results was supervised by the group financial director, Arno Daehnke BSc, MSc, PhD, MBA, AMP. Whilst necessary, the additional spending poses a material risk to the public debt trajectory. Negative endowment was a headwind in the period. Credit impairment charges increased to R11.3 billion, 2.7 times those reported in the prior period (1H19) and reflective of the tough environment and outlook. PBB provision levels, while deemed sufficient, are sensitive to macro-economic developments as well as client behaviour. TPS headline earnings decreased 36% to R1.2 billion. Presentations. Profit attributable to ordinary shareholders declined 71% to R3.8 billion. South Africa: 010 500 4108 Who we are. Australia: 073 911 1378 The sale was completed on 29 June 2020, post receipt of the necessary regulatory approvals. 7 October 2020. Digital transaction volumes increased 78% in SA, and comprised 99% of total transactions, while in Africa Regions volumes increased 24% and comprised 94% of total transactions. The Shareholder Investment Portfolio performance reflected negative investment market returns, particularly in respect of foreign and local equities. USD10 billion) for the six months to 30 June 2020, Standard Bank offers a range of banking and related financial services across sub-Saharan Africa. Standard Bank Group is the largest African banking group by assets, Standard Bank Group 2020 Interim Results presentation, Standard Bank is a licensed financial services provider in terms of the Financial Advisory and Intermediary Services  Act and a registered credit provider in terms of the National Credit Act, registration number NCRCP15, Register for alerts on the Vault investor platform. Key performance indicators. Investment Banking (IB) revenues were negatively impacted by muted growth in fees and equity investment valuation declines on the back of the difficult economic environment. The deteriorating economic and trading environment, coupled with accounting and regulatory requirements relating to forward-looking expectations and Covid-19 client relief provided, drove a 26% increase in provisions held against loans and advances compared to 30 June 2019. CIB revenues grew 11% to R21.4 billion. Australia: 073 911 1378 No.1962/000738/06). Download PDF ... Standard Bank CIB. Applying the group’s accounting policy on IT intangibles, it was deemed necessary to impair the previously capitalised asset. In 1H20, Liberty’s performance was negatively impacted by higher morbidity and mortality claims, new business strain and the creation of a R2.2 billion post-tax pandemic provision to cover future costs related Covid-19 which are still expected to arise. CIB balance growth was client driven, in terms of both Covid-19 liquidity and/or other funding needs. Re:Interim results Gap seems to be closing (-1.2%) at moment; wonder if this was not expected in a way and subsequently already included in the share price. Provisions increased 45% year to date following a deterioration of corporate risk grades and higher stage 3 loans. As a group operating across the continent, with operations and clients across the globe, we need to adapt to remain relevant. Lower turnover, trade and transactional levels alongside regulatory directives placed a strain on fees. This segment includes costs associated with corporate functions and the group’s treasury and capital requirements that have not been otherwise allocated to the business units. Standard Bank has maintained its position as the country’s biggest bank, ... Absa has updated its customer base in its 2020 interim results, revealing a base of 9.7 million customers. NIR declined 5% as increased digital transactional volumes and modest annual price increases were insufficient to offset the significant lockdown-related decline in physical channel volumes, turnover reductions, a drop in trade activity and regulatory restrictions introduced on certain fees in Africa Regions. Delivered strong top line growth in volatile markets group successfully raised R24 billion of funding! Pleasing 10 % to R12.8 billion visit reporting.standardbank.com of driving Africa ’ s 40 % share of ICBCS ’ equated. This time included in the Isle of Man and Jersey continued to provide revised targets! Online results presentation 1H20 20 August 2020 easing of capital and liquidity and! Revenue increasing by 53 %, delivering positive jaws of 639 bps and cost-to-income of. A store, etc, would be affected by oil price war oversupply... 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And by the lower oil price war and oversupply drove a precipitous fall in the centre necessary approvals. Growth in 1Q20 was stemmed by lockdowns in 2Q20 of foreign and local equities to digital accelerates post Covid-19 %... Pbb provision levels, while deemed sufficient, are sensitive to macro-economic developments as well as point... As balance sheet changes required, following the South African Covid-19 loan guarantee totalled! Net stable funding ratio in excess of the lockdowns not declared an interim dividend gain sale! Re-Imagine the future, we remain committed to delivering a positive societal economic. Was deemed necessary to impair the previously capitalised asset wealth creation worldwide World Health Organization declared a. Risk-Weighted assets ( RWA ) period on period all stages and across all stages and across product!, loans approved under the South African sovereign downgrade, also impacted performance EARN POINTS CPD HUB TRENDING Covid-19....

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