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SFN - Sasfin Holdings Limited - Semi-Annual Report in terms of Regulation 43 (1)

Release Date: 28/03/2011 14:47
Code(s): SFN SFNP
Wrap Text

SFN - Sasfin Holdings Limited - Semi-Annual Report in terms of Regulation 43 (1) (E) (II) of The Banks Act 1990 (as amended) 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 SEMI-ANNUAL 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, all 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 31 December 2010, and meets the ongoing reporting requirements for its semi-annual disclosure in terms of Pillar 3 of the Basel II Accord. The qualitative information regarding the Group`s Capital Management Plan and Strategy is fully disclosed in the Group`s 2010 Annual Report and Audited Annual Financial Statements. This report is available for download from www.sasfin.com Sasfin Holdings Sasfin Bank Limited Limited & its
subsidiaries R`000 %age R`000 %age
1. Total Risk weighted assets 3,354,683 2,145,929 & exposures Credit risk 1,408,381 1,313,063 Operational risk 733,250 334,919 Market risk 279,795 279,795 Equity investment risk 592,567 2,535 Other risk 340,690 215,617
2. Tier 1 Primary Capital 777,783 23.18 502,956 23.44 Share Capital & Premium 163,686 141,475 Distributable reserves 807,889 438,925 Non-redeemable preference 152,640 60,000 share capital Prescribed deductions and (346,432) (137,444) non-qualifying reserves 3. Tier 2 Secondary Capital 170,052 5.07 82,413 3.84 Non-redeemable preference 46,639 - share capital Sub-ordinated Debt 82,450 82,450 General other reserves 45,898 4,898 General allowance for 7,330 7,330 credit impairment Prescribed deductions and (12,265) (12,265) non-qualifying reserves
Total Qualifying Capital & 947,834 28.25 585,369 27.28 Capital Adequacy ratio
4. Minimum Required Capital & 318,695 9.50 203,863 9.50 Reserves
5. The South African economy continues to prove challenging, with signs of recovery in certain sectors. Notwithstanding the improving business environment, the banking sector remains sluggish, with the demand for credit being mixed and subdued in most areas. In addition, the regulatory landscape which is changing significantly, impacts growth opportunities and increases costs of compliance.
Johannesburg 28 March 2011 Lead Sponsor KPMG Services (Pty) Limited Joint Sponsor SASFIN CAPITAL A DIVISION OF SASFIN BANK LIMITED Date: 28/03/2011 14:47:03 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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