Standard Bank Group Ltd • Integrated Report • Business model
- Value creation
- Connectivity of information
Key observations:
As aligned with the view that “an integrated report should show a holistic picture of the combination, interrelatedness and dependencies between the factors that affect the organization’s ability to create value over time” (International <IR> Framework, para. 3.6), in the section on “Our value creation story” Standard Bank Group identifies and outlines through a graph the elements through which it creates value for itself and how this is linked to the value it creates for others (International <IR> Framework, para. 2.6). Accordingly, organisational aspects, such as the operating context, the risk appetite, the business units and corporate functions, the group strategy and the clients are briefly described and related to aspects as the creation of value for the group, for society and driving Africa’s growth over the long term.
The governance approach adopted in terms of how performance and remuneration (International <IR> Framework, para. 4.9) are linked to value creation and associated with ethical and effective leadership, corporate citizenship and sustainable development. Finally, the material issues are presented as well as the categories of key stakeholders that contribute to this overall process. References to the ad-hoc sections of the Report provides further help in navigating the document (International <IR> Framework, para. 3.9).
