Absa Bank - Pillar 3 disclosure
The quarterly Pillar 3 disclosure is made in accordance with the requirements of Regulation 43 of the regulations relating to Banks and previously issued Banks Act directives as well as the Basel Committee on Banking SupervisionĘs Revised Pillar 3 disclosure requirements issued on 29 March 2017.
This disclosure is made in terms of International Financial Reporting Standards (IFRS) as required by Regulation 3 of the regulations relating to Banks. IFRS results include the impact of the contribution amounts received as part of the separation from Barclays PLC. Normalised results, which exclude the impact of contribution amounts received from Barclays PLC, are also included.
In accordance with SARB Directive 5 of 2017 (Directive 5), Barclays Africa Group Limited and Absa Bank Limited have elected to utilise the transition period of three years for phasing in regulatory capital impact of IFRS 9. As required by Directive 5, both the fully loaded and transitional impacts of IFRS 9 are disclosed.
Barclays Africa Group Ltd.
Barclays Africa Group Ltd. (or the Group) remains capitalised above the minimum regulatory capital requirements and above or within Board-approved target capital ranges.
The Group continues to optimise the level and composition of capital resources. In line with this objective, the Group will continue to raise Basel III compliant capital instruments as and when appropriate, in the domestic and/or international capital markets.