Macro Outlook and Financial Performance

Profit After Tax FY22 N$ 'mil FY21 N$ 'mil change % Net interest income Non-interest revenue 1 445 1 229 17.5 1 283 1 283 6.1 Total income 2 728 2 438 11.9 Credit impairment charges (161) (289) (44.2) Net Income before operating expenses 2 567 2 149 19.4 Operating expenses (1679) (1587) +5.8 8 Profit After Tax 12 . KEY TAKEOUTS 2022 has been a year of renewed recovery for the group with strong growth in profit after tax of over 71%. SBN Holdings also successfully raised N$400 million in its debut green bond issuance, enabling the group to accelerate its progress in transitioning to a low carbon. 624 366 70.5 economy Credit loss ratio 0.60% 1.09% Cost-to-income ratio 62% 65% Return on equity 13.7% 8.6% Standard Bank

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