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  • Our business
    • OUR APPROACH TO INTEGRATED THINKING
    • WHO WE ARE
    • OUR OPERATING CONTEXT
    • OUR GROUP STRATEGY
    • OUR VALUE CREATION MODEL
    • MEASURING OUR STRATEGIC PROGRESS
    • WHY INVEST IN US
  • Our performance
    • CHAIRMAN’S STATEMENT
    • GROUP CHIEF EXECUTIVE’S REPORT
    • OUR STRATEGIC VALUE DRIVERS
  • Our accountability
    • OUR REPORTING SUITE
    • ABOUT THIS REPORT
    • GOVERNANCE OVERVIEW
    • REMUNERATION OVERVIEW
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  • Our value creation model

    Our business model enables us to respond to commercial and social realities in a dynamic environment of competing stakeholder expectations, complex competitive forces and regulatory pressures. We strive to manage our resources and relationships responsibly in what we do and how we do it, to deliver the best outcomes for our clients, our people, our shareholders and other stakeholders.

    EXTERNAL ENVIRONMENT

    Our diversified footprint exposes us to several structural and cyclical trends. Read more on our operating context

    OUR CAPITAL INPUTS

    CLIENT FOCUS

    SRC/
    Profitable client relationships built on trust
    Strong strategic partnerships, including our
    ten-year partnership with ICBC
    HC/
    Employees equipped to provide exceptional
    client experiences
    IC/
    Client focused, digitally enabled ways of working
    MFC/
    Fit-for-purpose branch and ATM network
    NC/
    Utilities (direct) and financing activities (indirect)

    EMPLOYEE ENGAGEMENT

    HC/
    Strong executive and leadership teams
    Engaged and capable employees
    SRC/
    Good relationships with employee representatives
    IC/
    Reward structures linked to performance and
    value drivers
    High-performance ethical culture
    Investment in training that supports clientfocused
    ways of working

    RISK AND CONDUCT

    SRC/
    Constructive relationships and ongoing dialogue with regulators and governments
    HC/
    Embedding a risk-aware, compliant and ethical culture
    IC/
    Strong internal control systems, and risk and compliance frameworks

    FINANCIAL OUTCOME

    FC/
    Competitive investment proposition
    Affordable access to capital and a resilient and
    diverse capital structure.
    HC/
    Competitively reward employees for the value they deliver
    SRC/
    Good standing in the investment community

    SEE IMPACT

    SRC/
    Supporting socioeconomic development and sustainable markets
    NC/
    Working with clients to manage environmental
    risk, including applying the Equator Principles
    Viable business and market growth
    Reputable and ethical brand
    SRC/
    Social and relationship capital
    HC/
    Human capital
    IC/
    Intellectual capital
    FC/
    Financial capital
    NC/
    Natural capital
    MFC/
    Manufactured capital
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    Our purpose is the ultimate outcome of our strategy over the short, medium and long term.

    IMPLEMENTING OUR STRATEGY

    Our strategy is designed to realise the opportunities that Africa presents. Our three key focus areas combine to ensure we offer our clients the solutions they need in the most effective way possible, and our strategic value drivers focus our efforts and measure our progress in delivering value.

    Read more about our strategy and key value drivers

    RISKS AND OPPORTUNITIES

    We follow a strategic process to identify the significant risks and emerging threats faced by the group and the countries we operate in. This focuses our attention and prioritises our responses in addressing the risks, opportunities and threats that may impact on our ability to achieve our strategy.

    Read more about our risks and opportunities

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    OUR GOVERNANCE

    Our governance and risk frameworks are integrated across our operations to enable enhanced accountability, effective risk management, clear performance management, greater transparency and effective leadership.

    We see effective leadership as that which unites purpose and performance by embedding an ethical and risk-aware culture which recognises that the trust of our stakeholders is the basis on which we compete and win.

    Read more in the governance overview section

    BUSINESS ACTIVITIES AND OUTPUTS

    As an integrated financial services organisation with a broad offering of products and services, our business units and corporate functions work together to deliver on our clients’ needs.

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    WHAT WE DO FOR OUR CLIENTS

    OUR BUSINESS ACTIVITIES

    INCOME AFTER CREDIT IMPAIRMENTS

     
     
    BANKING ACTIVITIES

    INCOME STATEMENT IMPACT AND ASSOCIATED RISKS

    Lend money to our clients
    Interest income and credit impairments
    Source funding from client deposits and other funders
    Interest expense
    Provide transactional banking facilities and knowledge-based services to clients
    Net fee and commission revenue
    Market access and risk mitigation products to businesses
    Trading revenue
    Revenue from other sources linked to core businesses, as well as strategic investments
    Other revenue

    INSURANCE ACTIVITIES

    Long- and short-term insurance, investment products and advisory services
    Income from investment management and life insurance activities

    EXPENSES

    BANKING AND INSURANCE ACTIVITIES

    WHAT WE INVEST IN TO SUPPORT WHAT WE DO
    Client centricity
    We invest in our people to equip them to deliver exceptional client experiences in a changing world of work.
    Digitisation
    We invest in our operations, including our IT platforms, to enhance our capabilities, improve efficiency and remain compliant with all applicable laws and regulations.
    Integration
    We invest in our integrated financial service offering and capabilities delivered through PBB, CIB, Wealth and Liberty together with our relationship with ICBC.
    Strategic investments
    We invest to support our access to innovation and drive socioeconomic development in Africa.

    INCOME STATEMENT IMPACT AND ASSOCIATED RISKS

    Other operating expenses
    Staff costs
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    HOW WE MAKE MONEY

    Income after credit impairments
    minus
    Expenses
    minus
    Direct and indirect taxes
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    Net profit
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    Dividends to shareholders
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    Retained equity to sustain and grow our business
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    Our value creation outcomes

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    CLIENT
    FOCUS
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    EMPLOYEE
    ENGAGEMENT
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    RISK AND
    CONDUCT
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    FINANCIAL
    OUTCOME
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    SEE
    IMPACT
    Credit risk
    Interest rate risk
    Insurance risk
    Business and reputational risk
    Funding and liquidity risk
    Market risk
    Operational risk, including compliance, environmental and/or social risk