African Bank Annual Report 2017

African Bank Annual Report 2017African Bank Holdings Limited and African Bank Limited results for the six months ended 31 March 2018, published on 29 May 2018.

This is the second integrated report of the African
Bank Holdings Limited Group, incorporating our wholly
owned subsidiaries African Bank Limited and African
Insurance Group Limited, collectively ‘the Group’ or
‘the Bank’. We believe that by reporting in an integrated
manner we can provide our stakeholders with the
information that they need to make informed decisions
about our business. The aim of this report is also to
demonstrate how African Bank has and will create value for its stakeholders.

Some issues discussed are:

BUSINESS UPDATE

A digital retail bank in the making
Solid progress on diversification
Core loans business performing well, Return on Equity 20.0%
Six month retail deposit growth of 90%

CUSTOMER ADVANCES

Gross advances R26.9 billion
Reduced credit risk charge 11.1%
Conservative provisioning
Lower risk represents 80% of advances

EARNINGS

Group profit before tax and foreign exchange R715
Profit before tax and foreign exchange up 42% year-on-year
Group Return on Equity 9.6%

BALANCE SHEET

Cash resources R8.6 billion
Bought back R1.9 billion
Core Equity Tier 1 ratio 32.6%