Standard Bank Limited

Ticker code STANDARD Industry Money Center Banks Standard Bank Centre
African Unity Road
Capital City
Lilongwe, Malawi
ISIN MW000A1C5MK1 Sector Financial
Initial Listing 29 June 1998 Financial Year End 31 December
Website www.standardbank.co.mw Results Released Half-yearly
2010 2011 2012 2013 2014
  MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
           
Statement of comprehensive income
Net interest income 4,639 4,980 9,130 15,759 16,923
Net fee and commission income 1,804 2,302 3,754 5,099 5,590
Net trading income 3,227 4,213 9,300 11,834 12,378
Other operating income 92 24 34 42 70
Total operating income 9,762 11,519 22,218 32,734 34,961
Impairment on loans and advances -474 -998 -1,592 -2,328 -1,440
Income after credit impairment losses on loans and advances 9,288 10,521 20,626 30,406 33,521
Total expenditure -5,666 -4,980 -8,602 -12,472 -15,491
Profit before income tax expense 3,622 5,541 12,024 17,934 18,030
Income tax expense -1,198 -1,995 -4,059 -5,865 -5,741
Profit for the year 2,424 3,546 7,965 12,069 12,289
Total other comprehensive income for the year, net of tax 88 856 -74 -553 2379
Total comprehensive income 2,512 4,402 7,891 11,516 14,668
Basic earnings per share (MK) 11.38 16.65 37.39 51.58 52.52
Dividend per share (tambala) 633 1,359 2,337 937 213
Number of ordinary shares in issue (million) 213 213 213 234 234
Market price per share (MK) 100 106 128 400 425
Statement of financial position 
Total assets 55,152 75,620 118,196 166,701 190,965
Total liabilities 45,475 63,219 101,763 143,791 153,873
Total equity 9,677 12,401 16,433 22,910 37,092
Total equity and liabilities 55,152 75,620 118,196 166,701 190,965
Statement of cash flows
Net cash generated from operating activities 1,879 291 28,450 31,313 38,370
Net cash used in investing activities -822 -2,100 -1,607 -2,432 -2,370
Dividends paid -1,060 -1,681 -4,000 -4,986 -500
Net increase in cash and cash equivalents -3 -3,490 22,843 23,895 35,500
Cash and cash equivalents at 1 January 11,617 11,614 8,124 30,967 54,862
Cash and cash equivalents at 31 December 11,614 8,124 30,967 54,862 90,362

Period ended: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
Statement type: Audited Audited Audited Audited Audited
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Interest income 5,266 5,834 11,823 21,380 22,790
Interest expense -627 -854 -2,693 -5,621 -5,867
Net interest income  4,639 4,980 9,130 15,759 16,923
Net fee and commission income 1,804 2,302 3,754 5,099 5,590
Net trading income  3,227 4,213 9,300 11,834 12,378
Other operating income 92 24 34 42 70
Total operating income 9,762 11,519 22,218 32,734 34,961
Impairment on loans and advances -474 -998 -1,592 -2,328 -1,440
Income after credit impairment losses on loans and advances 9,288 10,521 20,626 30,406 33,521
Staff costs -2,282 -2,067 -4,419 -6,126 -7,445
Depreciation and amortization -478 -496 -623 -820 -1,166
Other operating expenses -2,906 -2,417 -3,560 -5,526 -6,880
Total expenditure -5,666 -4,980 -8,602 -12,472 -15,491
Profit before income tax expense 3,622 5,541 12,024 17,934 18,030
Income tax expense -1,198 -1,995 -4,059 -5,865 -5,741
Profit for the year 2,424 3,546 7,965 12,069 12,289
           
Other comprehensive income
Items that are or may be reclassified to profit or loss
Profit for the year 2,424 3,546 7,965 12,069 12,289
Net revaluation gain on property and equipment - 952 - - 1,830
Net change in fair value on available for sale financial assets 88 -96 -74 -553 549
Total other comprehensive income for the year, net of tax 88 856 -74 -553 2379
Total comprehensive income 2,512 4,402 7,891 11,516 14,668
Basic earnings per share (MK) 11.38 16.65 37.39 51.58 52.52
Dividend per share (tambala) 633 1,359 2,337 937 213
Number of ordinary shares in issue (million) 213 213 213 234 234
Market price per share (MK) 100 106 128 400 425

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Period length: 6 months 6 months 6 months 6 months 6 months
Unit: MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
Statement type: Unaudited Audited Unaudited Audited Unaudited
View original statement: Unavailable Download Download Download Download
Interest income 10,159 11,221 12,004 10,786 12,657
Interest expense -3,021 -2,600 -4,259 -1,608 -1,631
Net interest income  7,138 8,621 7,745 9,178 11,026
Non-interest income 7,336 9,639 9,501 8,537 8,091
Total income 14,474 18,260 17,246 17,715 19,117
Credit impairment charges -963 -1,365 -1,458 18 -170
Income after credit impairment charges 13,511 16,895 15,788 17,733 18,947
           
Operating expenses -4,747 -7,725 -6,729 -8,762 -9,093
           
Profit before income tax expense 8,764 9,170 9,059 8,971 9,854
Income tax expense -3,094 -2,771 -2,932 -2,809 -3,120
Profit for the year 5,670 6,399 6,127 6,162 6,734
Other comprehensive income
Net revaluation gain on property and equipment - - - 1,830 -
Net change in fair value on available for sale financial assets -27 -526 -556 1,105 -25
Total comprehensive income 5,643 5,873 5,571 9,097 6,709
           
Basic earnings per share (tambala) 2,662 3,004 2,618 2,634 2,877
Dividend per share (tambala) 937 937 - 213 1,068
Number of ordinary shares in issue (million) 213 213 234 234 234
Market price per share (MK) 166 400 395 425 435

Period ended: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
Statement type: Audited Audited Audited Audited Audited
View original statement: Download Download Download Download Download
Assets
Cash and cash equivalents 7,738 8,541 13,500 27,219 30,617
Trading assets 5,499 7,683 8,932 14,096 11,931
Loans and advances to banks and other financial institutions 6,900 4,984 29,153 29,618 55,594
Loans and advances to customers 25,225 39,434 50,933 53,264 55,487
Financial investments 4,234 6,157 3,373 27,280 20,160
Investment in subsidiary - - - - -
Other assets 922 2,159 4,526 5,602 4,417
Property and equipment 4,012 6,097 7,066 8,276 11,473
Intangible assets 25 24 15 10 14
Deferred tax assets 597 541 698 1,336 1,272
Total assets 55,152 75,620 118,196 166,701 190,965
           
Liabilities 
Deposits and loans from banks 384 361 7,858 4,018 662
Deposits from customers 42,631 57,702 84,717 130,139 140,599
Other liabilities 455 2,955 5,030 3,573 5,510
Income tax payable 166 409 1,416 1,825 2,689
Provisions 408 535 1,536 1,667 1,986
Employee benefits liabilities 690 159 118 113 143
Deferred tax liabilities 741 1,098 1,088 2,456 2,284
Total liabilities 45,475 63,219 101,763 143,791 153,873
           
Equity
Share capital 213 213 213 213 234
Share premium 854 854 854 854 8,492
Revaluation reserve 1,429 2,381 2,381 2,381 4,211
Available for sale reserve 127 31 -43 -596 -47
Share based payment reserve 114 117 258 55 69
Retained earnings 6,940 8,805 12,770 20,003 24,133
Total equity 9,677 12,401 16,433 22,910 37,092
Total equity and liabilities  55,152 75,620 118,196 166,701 190,965

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Unit: MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
Statement type: Unaudited Audited Unaudited Audited Unaudited
View original statement: Unavailable Download Download Download Download
Assets
Cash and balances with Reserve Bank 9,417 27,219 23,526 30,617 24,079
Trading assets 18,822 14,096 14,989 11,931 22,983
Financial investments 11,261 27,280 8,870 20,160 25,167
Loans and advances to banks 24,197 29,618 55,963 55,594 24,931
Loans and advances to customers 51,345 53,264 58,151 55,487 71,255
Investment in subsidiary - - - - -
Other assets 5,727 5,602 5,615 4,417 6,936
Intangible assets 12 10 17 14 11
Property, plant and equipment 7,608 8,276 8,160 11,473 11,511
Deferred tax asset 608 1,336 771 1,272 1,552
Total assets 128,997 166,701 176,062 190,965 188,425
           
Equity and liabilities           
Shareholders' equity
Issued capital 213 213 234 234 234
Share premium 854 854 8,492 8,492 8,492
Retained earnings 15,453 20,003 18,472 24,133 28,361
Other reserves 2,572 1,840 2,414 4,233 4,226
Total equity  19,092 22,910 29,612 37,092 41,313
           
Liabilities
Deposits from banks 721 4,018 8,405 662 3,993
Deposits from customers 99,575 130,139 129,739 140,599 130,029
Other liabilities 7,109 5,353 4,758 7,639 8,249
Income tax payable 1,368 1,825 2,248 2,689 1,778
Deferred tax liability 1,132 2,456 1,300 2,284 3,063
Total liabilities  109,905 143,791 146,450 153,873 147,112
Total equity and liabilities 128,997 166,701 176,062 190,965 188,425
           
Off balance sheet items
Contingent liabilities 14,192 43,293 15,871 23,066 16,864
Undrawn commitments 1,125 5,544 7,220 15,091 12,957
Foreign exchange contracts 31,318 43,064 28,029 19,281 26,111

Period ended: 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14
Unit: MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
Statement type: Audited Audited Audited Audited Audited
View original statement: Download Download Download Download Download
           
Cash flows from operating activities
Interest received 5,166 6,005 11,062 21,380 22,790
Interest paid -639 -825 -2,448 -5,621 -5,867
Fees and commissions receipts 1,804 2,302 3,754 5,099 5,590
Trading and other income receipts 3,319 4,237 9,333 11,876 12,448
Recoveries from impairment losses 35 102 160 402 744
Payments to employees and suppliers -5,173 -5,431 -9,366 -14,270 -15,256
Cash flows from operating activities before changes in operating assets and liabilities  4,512 6,390 12,495 18,866 20,449
           
Changes in operating assets and liabilities 
Loans and advances -4,040 -14,209 -11,499 -2,331 -2,223
Liquidity reserve requirements -1,167 -2,010 -5,556 -13,781 5,934
Trading assets -104 -2,550 -1,979 7,290 -3,973
Financial investments 598 -1,924 2,784 -12,868 13,448
Other assets -480 -1,239 -2,368 -1,076 1,185
Deposits from customers 5,622 15,341 27,015 45,422 10,460
Deposits and loans from banks -988 -61 7,497 -3,840 -3,356
Other liabilities -556 1,893 3,280 -1,284 2,286
Net cash from operating activities before income tax 3,397 1,631 31,669 36,398 44,210
Income tax paid -1,518 -1,340 -3,219 -5,085 -5,840
Net cash generated from operating activities  1,879 291 28,450 31,313 38,370
           
Cash flows to investing activities
Purchase of property and equipment -959 -2,415 -1,613 -2,438 -2,371
Proceeds from sale of property and equipment 137 315 6 6 1
Net cash used in investing activities  -822 -2,100 -1,607 -2,432 -2,370
           
Cash flows to financing activities
Dividends paid -1,060 -1,681 -4,000 -4,986 -500
Net increase in cash and cash equivalents -3 -3,490 22,843 23,895 35,500
Cash and cash equivalents at 1 January 11,617 11,614 8,124 30,967 54,862
Cash and cash equivalents at 31 December  11,614 8,124 30,967 54,862 90,362

Period ended: 30-Jun-13 31-Dec-13 30-Jun-14 31-Dec-14 30-Jun-15
Period length: 6 months 6 months 6 months 6 months 6 months
Unit: MWK Millions MWK Millions MWK Millions MWK Millions MWK Millions
Statement type: Unaudited Audited Unaudited Audited Unaudited
View original statement: Unavailable Download Download Download Download
Operating activities
Interest, fees and other income received 15,334 23,423 21,774 19,798 21,486
Interest paid -2,852 -2,769 -4,259 -1,608 -1,631
Cash paid to suppliers and employees -3,092 -11,178 -6,322 -8,934 -9,377
Cash flows from operating activities before changes in operating assets and liabilities 9,390 9,476 11,193 9,256 10,478
Decrease/increase in operating activities before income tax 2,589 14,943 8,441 15,320 -33,629
Income taxes paid -3,008 -2,077 -3,307 -2,533 -3,457
Cash flows from operating activities    8,971 22,342 16,327 22,043 -26,608
           
Investing activities 
Purchase of property and equipment -1,229 -1,209 -873 -1,498 -766
Sale of property, plant and equipment 1 5 10 -9 23
Net investing activities  -1,228 -1,204 -863 -1,507 -743
           
Financing activities 
Dividends paid -2,987 -1,999 - -500 -2,506
Cash outflows from financing activities  -2,987 -1,999 - -500 -2,506
           
Net increase in cash and cash equivalents 4,756 19,139 15,464 20,036 -29,857
Cash and cash equivalents at beginning of period 30,967 35,723 54,862 70,326 90,362
Cash and cash equivalents at end of period  35,723 54,862 70,326 90,362 60,505