FIRSTRAND BANK LIMITED - Quarterly disclosure on Basel III capital adequacy

Quarterly disclosure on Basel III capital adequacy

FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010753/06)
JSE Ordinary Share Code: FSR
Ordinary Share ISIN: ZAE000066304
JSE B Preference Share Code: FSRP
B Preference Share ISIN: ZAE000060141
NSX Ordinary Share Code: FST
(FSR or the Group)

FirstRand Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number 1929/001225/06)
JSE company code: BIFR1
(FRB or the Bank)

QUARTERLY DISCLOSURE ON BASEL III CAPITAL ADEQUACY

In terms of Regulation 43 of the Regulations relating to banks,
the Group is required to disclose quantitative information on its
capital adequacy ratios on a quarterly basis. This is in
accordance with Pillar 3 of the Basel Accord.

The consolidated capital positions of the Group and the Bank at 31
March 2014 are set out below.



                                             FSR          FRB
                                              Rm           Rm

Common Equity Tier 1 capital
Ordinary share capital and premium          5 616        15 308
Qualifying reserves                        69 436        42 024
Non-controlling interests                     618           -
Regulatory deductions                      (2 475)       (1 064)
Total Common Equity Tier 1 capital         73 195        56 268

Total Additional Tier 1 capital             5 327         2 400

Total Tier 1 capital                       78 522        58 668

Tier 2 capital
Tier 2 instruments                          6 519         6 094
Other qualifying reserves                     299            30
Regulatory deductions                           -          (146)
Total Tier 2 capital                        6 818         5 978

Total qualifying capital and reserves      85 340        64 646
Minimum requirement per risk type:
Credit risk                                37 263           31 345
Counterparty credit risk                      774              758
Operational risk                            8 506            6 568
Market risk                                 1 483            1 326
Equity investment risk                      3 285              652
Other assets                                3 077            1 563
Total minimum capital requirement          54 388           42 212

Common Equity Tier 1 capital adequacy
ratio (%)                                    13.5             13.3
Tier 1 capital adequacy ratio (%)            14.4             13.9
Total capital adequacy ratio (%)             15.7             15.3


Notes:
   - The figures above have not been reviewed and reported on by
     the Group’s external auditors.
   - Qualifying reserves exclude any unappropriated profits.
   - The minimum capital requirement excludes any bank-specific
     individual capital requirement and is reported at 10%.

Sandton
30 May 2014

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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