1. 1 Interim financial results for the six months to for the six months to 30 June 2001 30 June 2001

2. 2 Presentation structure u Financial highlightsAlan van Biljon u Retail BankingPeter Wharton-Hood u SCMBMyles Ruck u Commercial Banking u Private Banking u International OperationsJacko Maree u Stanbic Africa u Liberty Group u Conclusion

3. 3 Key financial statistics Headline earnings per share 21% up

4. 4 Income statement highlights Headline earnings 24% up

5. 5 Headline earnings per business unit Increased contribution from Retail Banking ( ) 30 June ‘00

6. 6 Summarised balance sheet Total assets 18% higher

7. 7 Net interest margin Slight reduction in lending margins

8. 8 Net interest income Good growth despite adverse conditions, +12% u Domestic operations +8% u Low advances growth, 7% u Stable interest rates, pressure on funding costs u Competitive pressure on lending margins u Growth in savings u Stanbic Africa +3% u Solid lending growth, 18% u Zimbabwe u International Operations +20% u Strong advances growth u Devaluation of the Rand u Lower margins - improved asset quality

9. 9 Non-interest income 51% of total income u Fees and commissions +15% u Domestic operations +20% u New service charges u Transactional volume growth in new channels - Internet +82% u SCMB +31% u Stanbic Africa - volume growth and repricing u International Operations - decline in advisory fees u Trading income +13% u International Operations +22% u Volatility in emerging markets u Favourable spreads in foreign exchange trading u Other income +15% u Improvement in short-term insurance activities u Volume growth in CATS and BEST +33%

10. 10 Provision for credit losses Improving domestic environment u Domestic operations +4% u Aggressive provisioning in Commercial Banking - provisions +R54m u Retail 2% lower u SCMB 10% lower u Stanbic Africa +R15m u Prudent provisioning u International Operations +R45m u Higher general debt and Mining Finance provisions 1.14% 0.02% Stanbic 2000 International Operations Stanbic Africa Domestic operations Stanbic 2001 0.06%(0.09%) 1.13% Credit provisions to average advances

11. 11 Non-performing loans Improving book u Higher gross NPLs in Africa, London and in Commercial Property loans u R400m provisions written off against old NPLs in SCMB u Higher security values in SCMB, Commercial Property, Home loans and International u Branch net NPL situation has improved

12. 12 Operating expenses Costs under control, +7% u Domestic operations +8% u Inflationary increases u Higher IT and processing spend u Partly offset by: u Lower staff complement, 546 u Focus on sustainable cost management u Stanbic Africa +4% u Cost containment across the board u International Operations +9% u Currency effect u Increased staffing, 91 9% 6%

13. 13 Cost-to-income ratio Consistent improvement

14. 14 13.5*13.8 u Surplus capital primarily in hard currency u Higher capital requirement in International Operations u International acquisition possibilities Capital adequacy Well capitalised * Restated in line with new regulations

15. 15 Headline earnings Strong domestic performance

16. 16 Cost-to-income ratio Focus on efficiencies

17. 17 Capital allocation and returns Creating value for shareholders

18. 18 Retail Banking

19. 19 Retail Banking - results highlights Headline earnings up 30% u Transactional banking business u Strong revenue streams u New fee structures to influence customer behaviour u Home loans u New business showing stronger growth u Card business u Re-emerging as core capability u Cost efficiencies u Benefit of cost rationalisation in 2000

20. 20 Retail Banking Bancassurance portfolio showed mixed results u Simple products u Number of policies in force up 53% - Credit life policies 290 000 (+19%) - Funeral policies 260 000 (+125%) u Funeral penetration now 10.8% (from 4.5%) u Complex products u Business 7% up but below budget u Focus on sales force management u Investment in IT based selling tools

21. 21 Retail Banking E-plan and ABIL JV well positioned u Mass market number of transactions and average balances increase u Annual E-plan transactions per account up from 35 to 38 u Average balance up from R717 to R872 u African Bank JV u 20 000 accounts opened during first 6 months u Gross advances book R88m u Working closely together

22. 22 Retail Banking Sustained demand for virtual banking u Virtual banking development u Majority of home loans originated outside of branch infrastructure u Auto-E transactions increased by 19% u Internet banking customers up 43% to 186 000 u Internet transaction volumes up 82% u Internet fee based transactions up 74% u Call centre volumes up 24% u Virtual transactions account for 65% of total volumes u bluebean.com being repositioned

23. 23 Retail Banking - priorities u Revenue growth u Establish optimal balance between near and long term portfolio u Improve under-performing businesses u Leverage revenues from partnerships - ABIL JV - FIHRST payroll intermediary with Alexander Forbes - SA Homeloans - Edgars initiative - E-plan expansion with Orlando Pirates and Kaizer Chiefs u Comprehensive payment product strategy

24. 24 Retail Banking - priorities continued u Cost management u Best Bank Enhancement Programme u Roll out of Bank at Any Centre u Optimisation of channel, product and customer mix u Project execution disciplines extended to non-IT projects u End-to-end process management rules to extract efficiencies u Customer focus u Investment

25. 25 Retail Banking Rated by external groups u PricewaterhouseCoopers banking survey u Ranked first by peers in: - Retail Lending and Deposits - Internet Banking u Euromoney awards u Standard Bank rated Best Bank in South Africa u “…, the bank is a match for foreign entrants in retail banking technology as well as wholesale payments, clearing and custody...”

26. 26 SCMB

27. 27 SCMB - results highlights All-round contribution u Headline earnings 25% higher u Costs well contained, +4% u Retained strong position in chosen markets u Attracted a number of high calibre people

28. 28 SCMB Rated by external groups u PricewaterhouseCoopers banking survey u SCMB ranked first by its peers in: - Corporate Banking - Foreign Exchange Trading - Capital Markets, Bonds and Derivatives - Money Markets

29. 29 SCMB Successful turnaround of under performers u Total NPBT contribution +R56m

30. 30 SCMB Diversified revenue stream 21% (20%) 20% (25%) 12% (10%) 3% (3%) 14% (14%) 30% (28%) ( ) 30 June ‘00

31. 31 SCMB - priorities u Developing global product focus with Standard Bank London u Cost containment u Focus on e-Commerce u Private equity / Leveraged buy outs u Sustained improvement of equities broking business

32. 32 Commercial Banking

33. 33 Commercial Banking - results highlights Headline earnings 25% up u Commercial Suites u More conservative provisioning u Lending flat, but improved asset quality u Deposit base growing u Stannic u Turnover growth in line with market growth u Declining bad debts u Costs u Restricted to 2% increase

34. 34 Commercial Banking - priorities u Commercial Suites u Forecasting lower bad debts in the second half u Improvement in lending book boosted by lower interest rates u Continued focus on cross sell opportunities u Leverage off market leadership in electronic banking u Continued improvement in customer service u Stannic u Selective market share gains

35. 35 Private Banking

36. 36 Private Banking - introduction New business opportunity u Five cornerstones u International u Wealth management u Melville Douglas u Consolidated lending u Transactional banking

37. 37 Private Banking Integrated offering Standard Bank - Retail Liberty Group Standard Bank - Offshore Group Melville Douglas Standard Equities Standard Private Bank SCMB Third party suppliers Stanbic Africa

38. 38 Private Banking - priorities u Integrated product offering u Pace of product roll-out and client acquisition u Systems roll-out u Achieving first class service levels u Co-ordinating offshore offering u Contain start-up losses

39. 39 International Operations

40. 40 International Operations - results highlights Difficult market conditions u Headline earnings 13% up u Excellent client driven performance u Disappointing performance in fixed income activities u Strong unsettled dealing balance growth u Increased ability to hold margin assets on balance sheet

41. 41 International Operations Debt capital markets u Client business u Contribution up 74% u Key driver - sales u Strengthened management u Trading u Profits down u Continued uncertainty in emerging markets u Sell-off in US high yield market

42. 42 International Operations Resource banking u Earnings stable u Strong growth in precious metals (up 15%) offset by low activity in base metals and project finance u Core energy team, including electricity, now in place u Commodity trade finance contribution up 64%

43. 43 International Operations Private Banking u Strong growth in deposit business u Banking earnings increased 8% u Weaker stock broking/investment management/trust and advisory activity in line with the market

44. 44 u Weather the slowdown in major economies and uncertainty in emerging economies u Take advantage of widening spreads u Complete the integration of JF Bank u Selective acquisitions u Expand regional focus by adding to current teams and expanding business mix International Operations - priorities

45. 45 Stanbic Africa

46. 46 Stanbic Africa - results highlights Challenging environment u Headline earnings up 20% u Modest asset growth u Higher provisions u Good non-funds income growth u Costs well managed, +4% u Zimbabwe, Kenya performing poorly

47. 47 Stanbic Africa - priorities u Selective acquisitions u Strategic relationships u New products

48. 48 Liberty Group

49. 49 u Headline return on equity increased to 24%* u Headline earnings up 15%* u Embedded value up 13% since December u Total new business increased by 18% *On continuing operations Liberty Group - results highlights Performed well over the period

50. 50 Stanbic

51. 51 Stanbic - strategic imperatives u No change since last presentation u Move Retail Banking to a higher level u New head u Strong results u Develop Standard/Liberty axis further u Private Bank u Re-engineering Stanfin

52. 52 Stanbic u International RoE u Tough conditions - solid performance u Selective acquisitions will help u Capitalise on complementary capabilities of SCMB, International, Africa u Good progress u Global business lines u Attract, retain and deploy the right people