African Bank 2022 Annual Report

African Bank 2022 Annual Report

The annual report of the African Bank organized in 2022 can be viewed in a pdf form, It entails what end year budget of the bank and its inquiries.


  • Group returns to profitability in the six months, with 196% increase to R152 million
  • Robust balance sheet with a strong liquidity profile and high available cash resources of R8.0 billion to support growth strategy
  • High equity capital levels of R10.8 billion, resulting in a total group capital adequacy ratio of 43.6%
  • Retail deposit growth of 126% year-on-year, resulting in R8.6 billion deposit book
  • Rated best Contact Centre and Branch Network in the 2020 independent South African Customer Satisfaction Index (SA-csi) released in 2021


  • Gross advances R27.115 billion; 8% lower year-on-year
  • Provisioning coverage increased to 38.1%
  • New loans disbursed show 32% increase in H1 21 compared to last six months ended 30 Sept’20. Conservative credit granting continues, however credit criteria relaxed of late.
  • Improved credit loss ratio of 6.1%, from 12.9% a year ago.


  • Group profit after tax of R152 million (H1 20: R158 million loss)
  • Resulting in positive 2.9% return on equity for the half year (H1 20: negative 3.0%)