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SFN/SFNP - Sasfin Holdings Limited - 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
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 30 June 2011, and
meets the ongoing reporting requirements for its 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 2011 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 & 3,075,064 1,797,862
exposures
Credit risk 1,070,183 918,188
Operational risk 871,451 397,745
Market risk 289,764 289,764
Equity investment risk 621,603 154
Other risk 222,063 192,011
2. Tier 1 Primary Capital 821,932 26.73 587,276 32.67
Share Capital & Premium 163,686 253,476
Distributable reserves and 886,566 438,337
other***
Non-redeemable preference 148,892 60,000
share capital
Prescribed deductions and non- -377,212 -164,537
qualifying reserves
3. Tier 2 Secondary Capital 154,903 5.04 56,993 3.17
Non-redeemable preference
share capital 50,386 -
Subordinated debt
82,450 82,450
General allowance and other
reserves 52,422 4,898
Prescribed deductions and non-
qualifying reserves -30,355 -30,355
Total Capital & Capital 976,835 31.77 644,269 35.84
Adequacy ratio
4. Minimum Required Capital & 292,131 9.50% 170,797 9.50%
Reserves
5. The South African economy continued its recovery, albeit at a relatively slow
pace with uncertainty and volatility stemming from the global economy where
fears of sovereign credit default and recessionary concerns exist. Locally, the
banking sector remained resilient showing signs of stability and a return of
credit appetite in certain areas. In addition, the changing regulatory
environment has impacted growth opportunities and significantly increased costs
of compliance. Sasfin is well positioned to grow its franchise, focusing on the
entrepreneurial market and private client base. Sasfin`s growth trajectory is
indeed sustainable on the back of its strong capital position, improved
liquidity levels and diversified funding and activity base.
***Distributable reserves include current year unappropriated profits.
Johannesburg
19 September 2011
Lead Sponsor
KPMG Services (Pty) Limited
Joint Sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 19/09/2011 13:31:43 Supplied by www.sharenet.co.za
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