Standard Bank Group, referred to hereafter as “SBG” and “the group”, works to create shared value for all stakeholders. We do this by implementing profitable and responsible business strategies that deliver clear social benefits – profit with purpose. By providing financial solutions tailored for African markets, we contribute to Africa’s economic growth, support job creation, and enable the upliftment of individuals and societies. In turn, this expands the market for our products and services and makes SBG a more viable and sustainable business. In other words: delivering shared value makes sound business sense.
This report tells the story of how we create value in the context of strategy, stakeholders and the material matters that impact on our business. A matter is considered material if it significantly impacts on our ability to run our business successfully in the future; or if it significantly impedes us from delivering on our strategy and achieving our objectives; or if it is of significant concern to our stakeholders. These matters are assessed against the backdrop of stakeholder expectations and the broader context in which we operate.
The report is aimed at the people who make up the societies in which we conduct our business, this includes:
This report covers SBG’s operations in South Africa, the broader African continent and areas outside Africa. Unless indicated otherwise, data in this report refers to group banking operations, and financial services. It excludes associates and joint ventures.
SBG has a series of internal policies, procedures and controls in place to ensure that accurate data is provided. The group social and ethics committee provided oversight of this report. KPMG Services Proprietary Limited provided limited assurance on selected performance data in this report, indicated by ✓ a (tick), in accordance with International Standard on Assurance Engagements (ISAE 3000). The scope of the assurance engagement and the statement of assurance are provided.