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Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE and A2X share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
SBKP ZAE000038881 (First preference shares)
SBPP ZAE000056339 (Second preference shares)
JSE bond code: SBKI
("Standard Bank" or "the group")
Notification of change of auditors
The Boards and Audit Committees of the group and The Standard Bank of South Africa Limited
(SBSA) would like to inform their stakeholders that subject to shareholder approval,
PricewaterhouseCoopers Incorporated (PwC) tenure as a joint auditor will conclude following the
finalisation of the group’s and SBSA’s 2025 financial year. In line with global best practice, the group
and SBSA have decided to proceed with the rotation of PwC before its 2026 financial
year in accordance with the Independent Regulatory Board for Auditors’ Mandatory Audit Firm
Rotation (MAFR) ruling issued on 2 June 2017, notwithstanding the ruling on 31 May 2023 by the
Supreme Court of Appeal setting aside MAFR.
Furthermore, the Boards and Audit committees of the group and SBSA would like to inform their
stakeholders that following a comprehensive tender process, the group and SBSA intend to appoint
Deloitte & Touche (Deloitte) as one of the joint auditors for the financial year ending
31 December 2026.
The appointment of Deloitte and the designated audit partner is subject to approval by the South
African Prudential Authority in accordance with section 61 of the Banks Act No. 94 of 1990 as
amended.
In terms of section 90 of the South African Companies Act No. 71 of 2008, as well as paragraph 3.86
of the JSE Listings Requirements and paragraph 7.3(e)(iv) of the JSE Debt Listings Requirements, the
appointment of Deloitte as a joint auditor for the 2026 financial year will be recommended to the
ordinary shareholders for approval at the relevant annual general meeting.
Johannesburg
29 August 2023
Equity and Debt Sponsor
The Standard Bank of South Africa Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited
