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SFN / SFNP - Sasfin Holdings / Sasfin Bank Limited Quarterly Report On Basel II
Capital Adequacy Requirements 30 September 2008
SASFIN HOLDINGS LIMITED
(Incorporated In The Republic Of South Africa)
(Registration Number 1987/002097/06)
("Sasfin" or "the Group")
Ordinary share code: SFN & ISIN: ZAE000006565
Preference share code: SFNP & ISIN: ZAE000060273
SASFIN HOLDINGS LIMITED / SASFIN BANK LIMITED QUARTERLY REPORT ON BASEL II
CAPITAL ADEQUACY REQUIREMENTS 30 SEPTEMBER 2008
Quarterly report in terms of Regulation 43 (1) (e) (ii) of the Banks Act 1990
(as amended).
In terms of the requirements of the Banks Act, and the banking legislation under
Basel II, registered banks and bank controlling companies are obliged to report
certain qualitative and quantitative information on a regular basis to the
public.
The following table sets out the Sasfin Group`s quantitative information
relating to its Capital and Capital Adequacy levels as at 30 September 2008.
The qualitative information regarding the Group`s Capital Management Plan and
Strategy is fully disclosed in the Group`s 2008 Annual Report and Audited
Annual.
Financial Statements. This report is also available for download from
www.sasfin.com.
Sasfin Holdings Sasfin Bank
Limited Limited & its
subsidiaries
R`000 %age R`000 %age
1. Tier 1 Primary Capital 833,610 29.71 487,051 29.18
Share Capital & Premium 27,843 141,475
Distributable reserves 699,400 340,032
Non-redeemable preference 227,894 60,000
share capital
Special regulatory reserve 8,200 8,200
Prescribed deductions iro -129,727 -62,656
securitisation and non-
qualifying reserves
2. Tier 2 Secondary Capital 36,968 1.31 2,698 0.16
Non-redeemable preference 31,384 0
share capital
General other reserves 3,379 493
General allowance for credit 2,205 2,205
impairment
Total Available Capital & 870,578 31.02 489,749 29.34
Capital Adequacy ratio
3. Total Required Capital & 273,605 9.75 162,720 9.75
Reserves
4. Total Risk weighted assets & 2,806,205 1,668,927
exposures
5. Recent developments in global markets have once again highlighted the
importance of appropriate levels of capital in maintaining a healthy balance
between risk appetite and risk profile, and returns to shareholders. Only a
small component of the Group`s lending and investment assets are subject to the
volatility of fair value accounting and mark-to-market adjustments, and in line
with group`s risk appetite, stress and scenario testing, the Group`s current
capital levels are considered adequate. However, the Group does expect gains in
its private equity portfolios to reduce in line with market benchmarks.
Liquidity and indeed investor confidence in these challenging times are of
paramount importance and are at a premium. The group recently achieved a
successful refinance of its securitisation notes at good rates in a difficult
and "investor-shy" market, managing also to issue an additional R200 million of
notes, once again reflecting the exceptional asset quality of its securitisable
assets.
Johannesburg
11 December 2008
Lead Sponsor
KPMG SERVICES (PTY) LTD
Joint sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 11/12/2008 12:33:19 Supplied by www.sharenet.co.za
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