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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 ) ( " Standard Bank ” or “ the group " ) Voluntary trading update and pre - close call details As the recovery across our markets of operation continues , the group's lending and transactional activity continues to gain momentum . In South Africa , in the ten months to 31 October 2021 , mortgage , vehicle and asset finance , and business disbursements continued to trend well above prior periods and personal unsecured lending disbursements recovered to 2019 levels . In Africa Regions , personal loan volumes were also higher period on period , driven by a strong recovery in branch - originated loans . Investment Banking ( IB ) origination supported a recovery in the IB loan book balances to levels close to those as at 31 December 2020 . Revenues continued to recover , supported by higher average balances , a growing client base , improved sales , and higher activity levels relative to the comparative period ( i.e. the ten months to 31 October 2020 ) . In South Africa , card spend recovered to 2019 levels , while merchant acquiring turnover was well in excess thereof . In Africa Regions , transaction volumes also reflected good growth . Trading revenue has been better than expected in recent months . Costs remain well managed . Cost growth was driven by higher activity- and performance - related costs , including incentives . While we still expect negative jaws for FY21 , we expect jaws to narrow relative to 1H21 . Credit performance continues to track better than expected . In October , the relevant Liberty Holdings Limited ( Liberty ) preference and ordinary shareholders approved the schemes proposed by the group . With regards to the Liberty preference shareholders , the conditions to the preference share scheme were satisfied , the consideration has been paid and the Liberty preference shares have been delisted from the JSE Limited . With regards to the Liberty ordinary shareholders , we are in the process of obtaining the requisite regulatory approvals and still expect to satisfy the remaining outstanding conditions to the ordinary share scheme to allow us to complete the transaction in the first quarter of 2022. With regards to Liberty's performance , please refer to Liberty's voluntary operational update announcement released on SENS on 18 November 2021 . The group's capital and liquidity levels remain well above regulatory minimums and internal risk appetite thresholds . The group's common equity tier 1 ratio ( including unappropriated profits ) was 13.5 % as at 30 September 2021 ( 31 December 2020 : 13.2 % ) . Additional capital and liquidity information can be found in the group's Pillar 3 Report available on the group's Investor Relations website . Group guidance for the twelve months to 31 December 2021 , as provided in August 2021 , remains unchanged . While the global recovery is expected to be uneven , our diversified client base , broad portfolio of solutions , and geographic footprint position us well to continue to manage risk and find opportunities to partner our clients in their growth journeys . We are executing the strategy set out at our Strategy