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SBKI and BISTDB - Availability of Annual Financial Statements of SBG and SBSA for the Year ended 31 December 2025
Standard Bank Group Limited
Registration number 1969/017128/06
Incorporated in the Republic of South Africa
JSE bond code: SBKI
("SBG")
The Standard Bank of South Africa Limited
Registration number 1962/000738/06
Incorporated in the Republic of South Africa
JSE bond code: BISTDB
("SBSA")
AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS OF SBG and SBSA FOR THE YEAR ENDED 31 DECEMBER 2025
In accordance with paragraph 6.7 of the JSE Limited Debt and Specialist Securities Listings Requirements,
noteholders are advised that the annual financial statements of SBG and SBSA, for the year ended 31 December
2025 are available for inspection through a secure electronic manner at the election of the person requesting
inspection.
Noteholders are also advised that the audit report on the financial statements of the Issuer is unqualified
with no modifications applicable.
RESTATEMENT OF PREVIOUSLY PUBLISHED RESULTS
During the preparation of the 2025 annual financial statements, the following restatements relating to
previously published results were noted for SBG:
Presentation and classification of structured notes
During 2025, the group completed a technical review of the structured notes portfolio, to ensure compliance
with IFRS presentation and classification requirements. This review was initiated due to the complexity of the
underlying structures and processes, and to reinforce the ongoing strengthening of the group's controls and processes.
The review identified specific presentation and classification errors, including the gross-up of derivative
balances, as well as the misclassification of funding components in hybrid notes. These anomalies were operational
and classification-related in nature, as a result, the restatement has no impact on the income statement or
headline earnings for the year ended 31 December 2024 and as at 1 January 2024.
As part of the above review, it was identified that the group was in a net derivative liability position which
was previously incorrectly disclosed as a net derivative asset position in the statement of cash flows. This
classification has been corrected in the current year. The structured notes restatement has no cash flow impact
on trading assets or operating liabilities. However, note 45.2 has been restated to incorporate the impact for
the year ended 31 December 2024 of the change in operating liabilities line items relating to the net derivative
liability position, trading liabilities, and deposits and debt funding.
2024 1 January 2024
As Restated As Restated
previously Restatement previously Restatement
Restatements Rm Rm Rm Rm
Group Statement of financial
Derivative assets 63 157 (596) 62 561 77 379 1 054 78 433
Trading assets 427 596 468 428 064 318 632 471 319 103
Derivative liabilities 76 663 4 541) 72 122 83 333 (3 521) 79 812
Trading liabilities 106 574 956 107 530 94 468 407 94 875
Deposits and debt funding 2 138 856 3 457 2 142 313 2 001 646 4 639 2 006 285
Statement of cash flows
Increase in operating assets (207 833) (5 190) (213 023)
Increase in operating liabilities 187 029 5 190 192 219
During the preparation of the 2025 annual financial statements, the following restatements relating to
previously published results were noted for SBSA:
Presentation and classification of structured notes
During 2025, the group completed a technical review of the structured notes portfolio to ensure compliance
with IFRS presentation and classification requirements. This review was initiated due to the complexity of
the underlying structures and processes, and to reinforce the ongoing strengthening of the group's controls
and processes.
The review identified specific presentation and classification errors, including the gross-up of derivative
balances, as well as the misclassification of funding components in hybrid notes. These anomalies were operational
and classification-related in nature, as a result, the restatement has no impact on the income statement or headline
earnings for the year ended 31 December 2024 and as at 1 January 2024.
The statements of cash flows for the group and the company were not affected as the restatement has no cash
flow impact on trading assets, and operating liabilities. However note 38.2, has been restated to incorporate
the impact for the year ended 31 December 2024 of the change in operating liabilities line items which relates
to the net derivative liability position, trading liabilities and deposits and debt funding.
2024 1 January 2024
As Restatement Restated As Restatement Restated
previously previously
Group
Statement of financial
position
Derivative assets 58 857 (596) 58 261 63 066 1 054 64 120
Trading assets 374 780 468 375 248 285 032 471 285 503
Derivative liabilities 73 568 (4 541) 69 027 72 944 (3 521) 69 423
Trading liabilities 97 361 956 98 317 82 028 407 82 435
Deposits and debt funding 1 716 821 3 457 1 720 278 1 592 209 4 639 1 596 848
Company
Statement of financial
position
Derivative assets 57 930 (596) 57 334 62 449 1 054 63 503
Trading assets 369 301 468 369 769 279 066 471 279 537
Derivative liabilities 72 780 (4 541) 68 239 72 898 3 521) 69 377
Trading liabilities 97 361 956 98 317 82 028 407 82 435
Deposits and debt funding 1 718 536 3 457 1 721 993 1 592 904 4 639 1 597 543
The annual financial statements of SBG and SBSA have also been made available on their website at:
SBG: https://www.standardbank.com/sbg/standard-bank-group/investor-relations/results-and- reports/financial-results
SBSA: https://www.standardbank.com/sbg/standard-bank-group/investor-relations/results-and-reports/subsidiaries
12 March 2026
Debt sponsor: The Standard Bank of South Africa Limited
Date: 12-03-2026 07:50:00
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