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Credit ratings

Current ratings for entities within Standard Bank Group are detailed below:

	Short-term	Long-term	Outlook
Standard Bank Group Limited
Foreign currency issuer default rating	F3	BBB	Stable
Local currency issuer default rating		BBB	Stable
The Standard Bank of South Africa
Foreign currency issuer default rating	F3	BBB	Stable
Local currency issuer default rating		BBB	Stable
National rating	F1+ (ZAF)	AA (ZAF)	Stable
RSA Sovereign rating
Foreign currency issuer default rating	F3	BBB	Stable
Local currency issuer default rating		BBB+	Stable
Standard Bank Plc
Issuer default rating	F3	BBB	Stable
Banco Standard de Investimentos SA (Brazil)
National rating	F1+ (BRA)	AA- (BRA)	Stable
Stanbic IBTC Bank Plc (Nigeria)
National rating	F1+ (NGA)	AAA (NGA)
CfC Stanbic Bank (Kenya)
Issuer default rating	B	BB-	Stable
National rating	F1+ (KEN)	AAA (KEN)	Stable
Liberty Group
National rating		AA- (ZAF)	Stable
National Insurer Financial Strength		AA (ZAF)	Stable

	Short-term	Long-term	Outlook
The Standard Bank of South Africa
Foreign currency deposit rating	P-2	Baa1	Negative
Local currency deposit rating	P-2	A3	Negative
National rating	P-1	Aa2.za
RSA Sovereign ratings
Foreign currency	P-2	Baa1	Negative
Local currency		Baa1	Negative
Standard Bank Plc
Foreign and local currency deposit rating	P-2	Baa2	Negative

	Short-term	Long-term	Outlook
The Standard Bank of South Africa
Unsolicited foreign currency issuer rating	A-2	BBB	Negative
RSA Sovereign ratings
Foreign currency	A-2	BBB	Negative
Local currency	A-2	A-	Negative