African Bank Report

African Bank Report

Financial reporting

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


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%