Sharenet Sites 
Sharenet Sites
Reporting changes to Barclays Africa Group Limited’s comparatives
Barclays Africa Group Limited
Authorised financial services and
registered credit provider (NCRCP7)
Registration number: 1986/003934/06
Incorporated in the Republic of South Africa
JSE share code: BGA
Issuer code: AMAGB
ISIN: ZAE000174124
(Barclays Africa Group, BAGL or the Group)
Reporting changes
to Barclays Africa Group Limited’s comparatives
Changes to Barclays Africa Group Limited’s reported results for comparative periods driven primarily by the
acquisition of the Barclays Africa subsidiaries
Overview of reporting changes
This document provides users of Barclays Africa Group Limited (“the Group” or “BAGL”) consolidated financial
statements with advance information regarding financial reporting changes that will impact the results of the
comparative reporting periods to be disclosed alongside the Group’s results for the reporting period ending 31
December 2013.
The financial reporting changes are driven by:
1. The acquisition of 100% of the issued ordinary share capital of Barclays Africa Limited (“BAL”),
previously a fellow subsidiary of BAGL, with a shared parent company Barclays Bank Plc. The Group accounted
for this transaction in accordance with the Group’s and Barclays Group’s accounting policy in respect of
business combinations under common control, which resulted in the restatement of the financial performance
of comparative reporting periods.
2. Certain changes in internal accounting policies.
3. Business portfolio changes between operating segments.
These changes are over and above the reporting changes set out in the Reporting Changes document released on
18 July 2013. All references to previously reported amounts relate to the restated amounts published in that
document.
Note that this document does not provide an update on the current performance of the Group or performance of
the BAL entities. Its purpose is to provide users of the Group’s financial statements with the new baseline
information for the comparative reporting periods that will be incorporated with the financial results for the
reporting period ending 31 December 2013, in advance of publishing the results in February 2014. It further
includes the new baseline information for the interim reporting period ended 30 June 2013.
The impact of the BAL acquisition on the Group’s restated comparative information differs from pro forma
information provided by the Group in the JSE SENS announcement on 13 February 2013 titled ‘Barclays transaction
update’. The pro forma information contained in the SENS followed the JSE rules on disclosure of pro forma
information, whereas the Group’s comparative information has been restated in accordance with International
Financial Reporting Standards (“IFRS”).
1. Acquisition of Barclays Africa Limited
In 2012, Absa Group Limited announced its intention to conclude the strategic combination of Barclays’ Africa
operations with the existing Absa Group operations.
Through the transaction, Absa Group Limited acquired 100% of the issued ordinary share capital of BAL, which
was settled by the issuance of 129 540 636 Absa Group Limited ordinary shares. This increased Barclays Bank
Plc’s shareholding in the Group from 55,5% to 62,3%. This transaction concluded on 31 July 2013 and was
accompanied by the name change of Absa Group Limited to Barclays Africa Group Limited.
BAL holds 100% of the issued share capital of Barclays Bank of Ghana Limited, Barclays Bank Mauritius
Limited, Barclays Bank of Tanzania Limited, Barclays Bank Zambia Plc, Barclays Bank of Uganda Limited and Barclays
Africa Regional Office Proprietary Limited. It is also the majority shareholder of Barclays Bank of Botswana
Limited, Barclays Bank of Kenya Limited and Barclays Bank (Seychelles) Limited. The number of shares held by the
non-controlling shareholders of Barclays Bank (Seychelles) Limited, Barclays Bank of Kenya Limited as well as
Barclays Bank of Botswana Limited, together with the listings of the latter two entities, were not affected
by the transaction.
The transaction is a business combination of entities under common control as defined in International
Financial Reporting Standard 3: Business Combinations (“IFRS 3”). The Group elected, in accordance with the IFRS
framework and the Group’s and Barclays Group’s accounting policies, to account for the transaction in terms of
predecessor accounting principles. These principles broadly require:
- the assets and liabilities of the acquired entities to be recognised at their carrying values as
previously reported at the highest level of consolidation in the group, in this case Barclays Group;
- no fair value adjustments to be made to the assets and liabilities of the acquiree, in this case BAL, and
no additional goodwill, other than existing goodwill within BAL, to be recognised on conclusion of the
transaction in the new combined group;
- the difference between the fair value of the consideration paid and the net asset value of the acquired
entity to be recognised as an adjustment directly to equity; and
- the restatement of comparative periods presented as if the new combined group always existed in its
current form.
Accordingly, the Group's comparative financial results have been restated as if BAL was always part of the
Group’s structure. This also includes a pro forma restatement of the Group’s key ratios, presenting the shares
issued in the current reporting period as if they were always in issue.
The value of the shares issued (including R90 million duties paid in cash) was R18 420 million while the net asset
value acquired at the closing date of the transaction on 31 July 2013 was R12 523 million. The excess of the purchase
price over net asset value is accounted for in share premium.
Note
(1) The restated net asset value on 30 June 2013 was R12 310 million.
2. Internal accounting policy changes
The Group elected to make internal accounting policy changes in 2013. The changes, set out below, are
relatively minor, involving classification of items between income statement lines and have no impact on the net
earnings of the Group. To ensure comparability, the comparative reporting periods have been restated.
2.1. The Group changed its accounting policy for certain ‘association costs’, defined as costs incurred
through the Group’s association with leading inter-change agents. This was done to achieve better alignment to
Barclays Group’s internal accounting policies. The change resulted in a reclassification of certain costs from
‘operating expenses’ to ‘net fee and commission income’.
2.2. The Group elected to amend the disclosure of rental income from investment properties held in one of
the Group’s wholly-owned subsidiaries. This change resulted in a grossing up of income recognised in ‘other
operating income’ and an equal movement in ‘operating expenses’.
3. Business portfolio changes
Operational changes, including movements of underlying business lines, management changes and associated
changes to the way in which the Chief Operating Decision Maker views the performance of each business segment
have resulted in the reallocation of earnings between operating segments. These changes had no impact on the
Group's net earnings.
Condensed consolidated statement of financial position as at 31 December 2011 (1)
Group
As Acquisition BAGL
previously accounting consolidation BAGL
reported (2) BAL entries adjustments restated
Rm Rm Rm Rm Rm
Assets
Cash, cash balances and balances with central banks 26 997 17 338 - - 44 335
Statutory liquid asset portfolio 57 473 - - - 57 473
Loans and advances to banks 57 499 18 282 - - 75 781
Trading portfolio assets 84 623 48 - - 84 671
Hedging portfolio assets 4 299 14 - - 4 313
Other assets 14 592 3 531 - - 18 123
Current tax assets 288 56 - - 344
Non-current assets held for sale 35 - - - 35
Loans and advances to customers 504 925 38 188 - - 543 113
Loans to Group companies - 256 - (256) -
Reinsurance assets 1 009 - - - 1 009
Investment securities 21 182 2 592 - - 23 774
Investments in associates and joint ventures 420 - - - 420
Subsidiaries - - 18 330 (18 330) -
Investment properties 2 839 - - - 2 839
Property and equipment 7 996 1 646 - - 9 642
Goodwill and intangible assets 2 135 147 - - 2 282
Deferred tax assets 269 400 - - 669
Total assets 786 581 82 498 18 330 (18 586) 868 823
Liabilities
Deposits from banks 38 339 6 231 - - 44 570
Trading portfolio liabilities 55 960 37 - - 55 997
Hedging portfolio liabilities 2 456 - - - 2 456
Other liabilities 14 695 2 627 - - 17 322
Provisions 1 710 548 - - 2 258
Current tax liabilities 267 34 - - 301
Deposits due to customers 440 960 61 941 - - 502 901
Debt securities in issue 130 262 15 - - 130 277
Liabilities under investment contracts 15 233 - - - 15 233
Loans from Group companies - 256 - (256) -
Policyholder liabilities under insurance contracts 3 183 - - - 3 183
Borrowed funds 14 051 948 - - 14 999
Deferred tax liabilities 1 159 125 - - 1 284
Total liabilities 718 275 72 762 - (256) 790 781
Equity
Capital and reserves
Attributable to ordinary equity holders:
Share capital 1 434 195 259 (195) 1 693
Share premium 4 676 539 18 071 (18 135) 5 151
Retained earnings 53 714 6 534 - - 60 248
Other reserves 2 385 1 101 - - 3 486
62 209 8 369 18 330 (18 330) 70 578
Non-controlling interest - ordinary shares 1 453 1 367 - - 2 820
Non-controlling interest - preference shares 4 644 - - - 4 644
Total equity 68 306 9 736 18 330 (18 330) 78 042
Total liabilities and equity 786 581 82 498 18 330 (18 586) 868 823
Salient features - financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Return on average equity (“RoE”) 16,4 0,5 16,9
Return on average assets (“RoA”) 1,32 0,07 1,39
Pro forma return on risk-weighted assets (“RoRWA”)(3) 2,35 (0,02) 2,33
Notes
(1) In accordance with International Accounting Standards 1 - Presentation of Financial Statements (“IAS 1”),
the condensed consolidated statement of comprehensive income for the reporting period ended 31 December 2011
has not been restated.
(2) Column refers to the restated amounts included in either the Reporting Changes document published on 18
July 2013 and/or the interim financial results booklet, published on 30 July 2013.
(3) The pro forma historical risk-weighted assets (“RWAs”) of the Group are restated to include the RWAs of BAL
as if they had always been a part of the Group’s RWAs. This does not alter any historical submissions made to
the South African Reserve Bank (“SARB”).
Condensed consolidated statement of financial position as at 31 December 2012
Group
As Acquisition BAGL
previously accounting consolidation BAGL
reported(1) BAL entries adjustments restated
Rm Rm Rm Rm Rm
Assets
Cash, cash balances and balances with central banks 26 547 18 223 - - 44 770
Statutory liquid asset portfolio 63 020 - - - 63 020
Loans and advances to banks 44 651 17 942 - (82) 62 511
Trading portfolio assets 87 317 29 - (22) 87 324
Hedging portfolio assets 5 439 17 - - 5 456
Other assets 14 189 3 617 - (227) 17 579
Current tax assets 303 73 - - 376
Non-current assets held for sale 4 052 - - - 4 052
Loans and advances to customers 527 328 38 934 - - 566 262
Loans to Group companies - 537 - (537) -
Reinsurance assets 1 003 - - - 1 003
Investment securities 25 624 5 289 - - 30 913
Investments in associates and joint ventures 569 - - - 569
Subsidiaries - - 18 330 (18 330) -
Investment properties 1 220 - - - 1 220
Property and equipment 8 397 1 227 - - 9 624
Goodwill and intangible assets 2 561 487 - - 3 048
Deferred tax assets 366 278 - - 644
Total assets 812 586 86 653 18 330 (19 198) 898 371
Liabilities
Deposits from banks 36 184 5 322 - (82) 41 424
Trading portfolio liabilities 51 684 72 - (22) 51 734
Hedging portfolio liabilities 3 855 - - - 3 855
Other liabilities 18 412 2 046 - (48) 20 410
Provisions 1 681 599 - - 2 280
Current tax liabilities 58 (29) - - 29
Non-current liabilities held for sale 1 480 - - - 1 480
Deposits due to customers 477 853 65 248 - - 543 101
Debt securities in issue 106 779 25 - - 106 804
Liabilities under investment contracts 18 768 - - - 18 768
Loans from Group companies - 716 - (716) -
Policyholder liabilities under insurance contracts 3 550 - - - 3 550
Borrowed funds 17 907 870 - - 18 777
Deferred tax liabilities 1 595 119 - - 1 714
Total liabilities 739 806 74 988 - (868) 813 926
Equity
Capital and reserves
Attributable to ordinary equity holders:
Share capital 1 435 195 259 (195) 1 694
Share premium 4 604 796 18 071 (18 135) 5 336
Retained earnings 56 889 8 009 - - 64 898
Other reserves 3 941 1 227 - - 5 168
66 869 10 227 18 330 (18 330) 77 096
Non-controlling interest - ordinary shares 1 267 1 438 - - 2 705
Non-controlling interest - preference shares 4 644 - - - 4 644
Total equity 72 780 11 665 18 330 (18 330) 84 445
Total liabilities and equity 812 586 86 653 18 330 (19 198) 898 371
Salient features - financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Return on average equity (“RoE”) 13,5 0,6 14,1
Return on average assets (“RoA”) 1,08 0,09 1,17
Pro forma return on risk-weighted assets (“RoRWA”)(2) 2,06 0,03 2,09
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on
18 July 2013 and/or the interim financial results booklet, published on 30 July 2013.
(2) The pro forma historical RWAs of the Group are restated to include the RWAs of BAL as if they had always
been a part of the Group’s RWAs. This does not alter any historical submissions made to the SARB.
Condensed consolidated statement of comprehensive income for the reporting period ended 31 December 2012
Group
BAGL
As accounting BAGL
previously policy consolidation BAGL
reported(1) changes BAL adjustments restated
Rm Rm Rm Rm Rm
Net interest income 23 992 - 5 310 - 29 302
Interest and similar income 50 599 - 6 698 - 57 297
Interest expense and similar charges (26 607) - (1 388) - (27 995)
Impairment losses on loans and advances (8 478) - (377) - (8 855)
Net interest income after impairment losses on loans
and advances 15 514 - 4 933 - 20 447
Non-interest income 22 964 (158) 2 868 - 25 674
Net fee and commission income 15 507 (190) 2 066 - 17 383
Fee and commission income 17 936 - 2 160 - 20 096
Fee and commission expense (2 429) (190) (94) - (2 713)
Net insurance premium income 5 618 - - - 5 618
Net insurance claims and benefits paid (2 719) - - - (2 719)
Changes in investment and insurance contract liabilities (1 707) - - - (1 707)
Gains and losses from banking and trading activities 3 778 - 757 - 4 535
Gains and losses from investment activities 1 736 - (1) - 1 735
Other operating income 751 32 46 - 829
Operating income before operating expenditure 38 478 (158) 7 801 - 46 121
Operating expenditure (26 700) 158 (4 643) - (31 185)
Operating expenses (25 881) 158 (4 606) - (30 329)
Other impairments (113) - (19) - (132)
Indirect taxation (706) - (18) - (724)
Share of post-tax results of associates and joint ventures 249 - - - 249
Operating profit before income tax 12 027 - 3 158 - 15 185
Taxation expense (3 355) - (1 084) - (4 439)
Profit for the reporting period 8 672 - 2 074 - 10 746
Other comprehensive income
Items that will not be reclassified to the profit and loss
component of the statement of comprehensive income
Movement in retirement benefit asset and liabilities (84) - (4) - (88)
Decrease in retirement benefit surplus (61) - (10) - (71)
Increase in retirement benefit deficit (59) - - - (59)
Deferred tax 36 - 6 - 42
Total items that will not be reclassified to the profit and
loss component of the statement of comprehensive income (84) - (4) - (88)
Items that are or may be subsequently reclassified to
the profit and loss component of the statement of comprehensive income
Foreign exchange differences on translation of foreign operations 140 - 198 - 338
Movement in cash flow hedging reserve 405 - - - 405
Fair value gains arising during the reporting period 2 650 - - - 2 650
Amount removed from other comprehensive income and recognised in the
profit and loss component of the statement of comprehensive income (2 088) - - - (2 088)
Deferred tax (157) - - - (157)
Movement in available-for-sale reserve 1 109 - 209 - 1 318
Fair value gains arising during the reporting period 1 532 - 207 - 1 739
Amount removed from other comprehensive income and recognised in the
profit and loss component of the statement of comprehensive income 10 - - - 10
Deferred tax (433) - 2 - (431)
Total items that will or may be reclassified to the profit and loss
component of the statement of comprehensive income 1 654 - 407 - 2 061
Total comprehensive income for the reporting period 10 242 - 2 477 - 12 719
Profit attributable to:
Ordinary equity holders of the Group 8,324 - 1 675 - 9 999
Non-controlling interest - ordinary shares 53 - 399 - 452
Non-controlling interest - preference shares 295 - - - 295
8,672 - 2 074 - 10 746
Total comprehensive income attributable to:
Ordinary equity holders of the Group 9 901 - 1 947 - 11 848
Non-controlling interest - ordinary shares 46 - 530 - 576
Non-controlling interest - preference shares 295 - - - 295
10 242 - 2 477 - 12 719
Headline earnings for the reporting period 8 738 - 1 681 - 10 419
Salient features - operating performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Net interest margin on average interest-bearing assets 3,79 0,49 4,28
Impairment losses on loans and advances as % of average loans and advances to 1,63 (0,03) 1,60
customers
Non-interest income as % of total operating income 48,9 (2,2) 46,7
Cost-to-income ratio 55,1 0,1 55,2
JAWS 0,2 (0,2) 0,0
Effective tax rate, excluding indirect taxation 27,9 1,3 29,2
Pro forma headline earnings per share(2) 1 217,7 12,2 1 229,9
Pro forma diluted headline earnings per share(2) 1 215,0 12,6 1 227,6
Pro forma basic earnings per share(2) 1 160,0 20,4 1 180,4
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18
July 2013 and/or the interim financial results booklet, published on 30 July 2013.
(2) The pro forma historical earnings per share metrics provided above include the shares issued on 31 July
2013 in consideration for the acquisition of Barclays Africa Limited as if the shares had always been in issue.
The provision of these metrics in no way impacts the legal effective date of the share issue.
Condensed consolidated statement of financial position as at 30 June 2013
Group
As Acquisition BAGL
previously accounting consolidation BAGL
reported(1) BAL entries adjustments restated
Rm Rm Rm Rm Rm
Cash, cash balances and balances with central banks 26 315 19 705 - - 46 020
Statutory liquid asset portfolio 66 902 - - - 66 902
Loans and advances to banks 56 307 29 236 - - 85 543
Trading portfolio assets 81 780 575 - (42) 82 313
Hedging portfolio assets 3 567 14 - - 3 581
Other assets 20 996 4 433 - (144) 25 285
Current tax assets 561 309 - - 870
Non-current assets held for sale 4 314 - - - 4 314
Loans and advances to customers 539 343 44 289 - - 583 632
Loans to Group companies - 724 - (724) -
Reinsurance assets 769 - - - 769
Investment securities 27 028 6 199 - - 33 227
Investments in associates and joint ventures 642 - - - 642
Subsidiaries - - 18 330 (18 330) -
Investment properties 1 125 - - - 1 125
Property and equipment 8 696 1 337 - - 10 033
Goodwill and intangible assets 2 571 530 - - 3 101
Deferred tax assets 417 239 - - 656
Total assets 841 333 107 590 18 330 (19 240) 948 013
Liabilities
Deposits from banks 44 110 6 124 - - 50 234
Trading portfolio liabilities 56 549 164 - (42) 56 671
Hedging portfolio liabilities 2 505 - - - 2 505
Other liabilities 25 531 4 135 - (40) 29 626
Provisions 868 863 - - 1 731
Current tax liabilities 490 171 - - 661
Non-current liabilities held for sale 1 495 - - - 1 495
Deposits due to customers 490 394 80 298 - - 570 692
Debt securities in issue 106 235 34 - - 106 269
Liabilities under investment contracts 19 261 - - - 19 261
Loans from Group companies - 828 - (828) -
Policyholder liabilities under insurance contracts 3 506 - - - 3 506
Borrowed funds 15 657 846 - - 16 503
Deferred tax liabilities 1 068 101 - - 1 169
Total liabilities 767 669 93 564 - (910) 860 323
Equity
Capital and reserves
Attributable to ordinary equity holders of
the Group:
Share capital 1 435 195 259 (195) 1 694
Share premium 4 467 3 001 18 071 (18 135) 7 404
Retained earnings 58 922 6 244 - - 65 166
Other reserves 2 860 2 870 - - 5 730
67 684 12 310 18 330 (18 330) 79 994
Non-controlling interest - ordinary shares 1 336 1 716 - - 3 052
Non-controlling interest - preference shares 4 644 - - - 4 644
Total equity 73 664 14 026 18 330 (18 330) 87 690
Total liabilities and equity 841 333 107 590 18 330 (19 240) 948 013
Salient features - financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Return on average equity (“RoE”) 14,0 0,3 14,3
Return of average assets (“RoA”) 1,15 0,07 1,22
Pro forma return on risk-weighted assets (“RoRWA”)(2) 2,10 (0,04) 2,06
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18
July 2013 and/or the interim financial results booklet, published on 30 July 2013.
(2) The pro forma historical RWAs of the Group are restated to include the RWAs of BAL as if they had always
been a part of the Group’s RWAs. This does not alter any historical submissions made to the SARB.
Condensed consolidated statement of comprehensive income for the interim reporting period ended 30 June 2013
Group
BAGL
As accounting BAGL
previously policy consolidation BAGL
reported(1) changes BAL adjustments restated
Rm Rm Rm Rm Rm
Net interest income 12 503 - 3 192 - 15 695
Interest and similar income 25 445 - 3 906 - 29 351
Interest expense and similar charges (12 942) - (714) - (13 656)
Impairment losses on loans and advances (3 546) - (290) - (3 836)
Net interest income after impairment losses on loans
and advances 8 957 - 2 902 - 11 859
Non-interest income 11 342 (93) 1 419 - 12 668
Net fee and commission income 7 800 (93) 1 002 - 8 709
Fee and commission income 9 010 - 1 060 - 10 070
Fee and commission expense (1 210) (93) (58) - (1 361)
Net insurance premium income 2 760 - - - 2 760
Net insurance claims and benefits paid (1 356) - - - (1 356)
Changes in investment and insurance contract liabilities (1 194) - - - (1 194)
Gains and losses from banking and trading activities 1 584 - 407 - 1 991
Gains and losses from investment activities 1 358 - - - 1 358
Other operating income 390 - 10 - 400
Operating income before operating expenditure 20 299 (93) 4 321 - 24 527
Operating expenditure (13 572) 93 (2 663) - (16 142)
Operating expenses (13 094) 93 (2 661) - (15 662)
Other impairments (12) - (1) - (13)
Indirect taxation (466) - (1) - (467)
Share of post-tax results of associates and joint ventures 79 - - - 79
Operating profit before income tax 6 806 - 1 658 - 8 464
Taxation expense (1 862) - (588) - (2 450)
Profit for the reporting period 4 944 - 1 070 - 6 014
Other comprehensive income
Items that will not be reclassified to the profit and loss component of
the statement of comprehensive income
Movement in retirement benefit asset and liabilities 60 - (155) - (95)
Decrease in retirement benefit surplus 3 - (155) - (152)
Decrease in retirement benefit deficit 75 - - - 75
Deferred tax (18) - - - (18)
Total items that will not be reclassified to the profit and loss
component of the statement of comprehensive income 60 - (155) - (95)
Foreign exchange differences on translation of foreign operations 454 - 1 833 - 2 287
Movement in cash flow hedging reserve (1 707) - - - (1 707)
Fair value losses arising during the reporting period (1 467) - - - (1 467)
Amount removed from other comprehensive income and recognised in the profit
and loss component of the statement of comprehensive income (906) - - - (906)
Deferred tax 666 - - - 666
Movement in available-for-sale reserve 75 - 125 - 200
Fair value gains arising during the reporting period 105 - 115 - 220
Amount removed from other comprehensive income and recognised in the profit
and loss component of the statement of comprehensive income 4 - - - 4
Deferred tax (34) - 10 - (24)
Total items that will not be reclassified to the profit and loss component of
the statement of comprehensive income (1 178) - 1 958 - 780
Total comprehensive income for the reporting period 3 826 - 2 873 - 6 699
Profit attributable to:
Ordinary equity holders of the Group 4 701 - 892 - 5 593
Non-controlling interest - ordinary shares 97 - 178 - 275
Non-controlling interest - preference shares 146 - - - 146
4 944 - 1 070 - 6 014
Total comprehensive income attributable to:
Ordinary equity holders of the Group 3 525 - 2 411 - 5 936
Non-controlling interest - ordinary shares 155 - 462 - 617
Non-controlling interest - preference shares 146 - - - 146
3 826 - 2 873 - 6 699
Headline earnings for the reporting period 4 663 - 891 - 5 554
Salient features - operating performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Net interest margin on average interest-bearing assets 3,91 0,55 4,46
Impairment losses on loans and advances as % of average loans and advances to customers 1,35 - 1,35
Non-interest income as % of total operating income 47,6 (2,9) 44,7
Cost-to-income ratio 54,9 0,3 55,2
JAWS (0,5) (3,1) (3,6)
Effective tax rate, excluding indirect taxation 27,4 1,5 28,9
Pro forma headline earnings per share(2) 649,7 6,0 655,7
Pro forma diluted headline earnings per share(2) 649,0 5,5 654,5
Pro forma basic earnings per share(2) 655,0 5,2 660,2
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18
July 2013 and/or the interim financial results booklet, published on 30 July 2013.
(2) The pro forma historical earnings per share metrics provided above include the shares issued on 31 July
2013 in consideration for the acquisition of Barclays Africa Limited as if the shares had always been in issue.
The provision of these metrics in no way impacts the legal effective date of the share issue.
Retail and Business Banking (RBB)
for the reporting period ended 31 December 2012
Group Geographic split
BAGL
As accounting Business
previously policy portfolio BAGL South Rest of
reported(1) changes BAL changes restated Africa Africa(2)
Rm Rm Rm Rm Rm Rm Rm
Net interest income 20 270 - 4 514 14 24 798 19 982 4 816
Impairment losses on loans and advances (8 235) - (380) (81) (8 696) (8 115) (581)
Non-interest income 13 879 (158) 1 639 47 15 407 13 499 1 908
Operating expenses (19 194) 158 (3 466) 83 (22 419) (18 250) (4 169)
Other (374) - (37) - (411) (357) (54)
Operating profit before income tax 6 346 - 2 270 63 8 679 6 759 1 920
Taxation expense (2 081) - (699) (54) (2 834) (2 129) (705)
Profit for the reporting period 4 265 - 1 571 9 5 845 4 630 1 215
Profit attributable to:
Ordinary equity holders of the Group 4 007 - 1 258 13 5 278 4 283 995
Non-controlling interest - ordinary shares 58 - 313 (4) 367 147 220
Non-controlling interest - preference shares 200 - - - 200 200 -
4 265 - 1 571 9 5 845 4 630 1 215
Headline earnings 4 392 - 1 263 13 5 668 4 668 1 000
Statement of financial position
Loans and advances to customers 411 527 - 27 983 (81) 439 429 409 107 30 322
Investment securities 1 042 - 5 290 - 6 332 1 036 5 296
Other assets 199 130 - 23 783 119 223 032 193 521 29 511
Total assets 611 699 - 57 056 38 668 793 603 664 65 129
Deposits due to customers 212 483 - 41 043 - 253 526 205 993 47 533
Debt securities in issue 3 636 - 24 - 3 660 3 636 24
Other liabilities 388 418 - 6 723 30 395 171 387 231 7 940
Total liabilities 604 537 - 47 790 30 652 357 596 860 55 497
Salient features - operating and financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Net interest margin on average interest-bearing assets 3,82 0,51 4,33
Impairment losses on loans and advances as % of average
loans and advances to customers 2,04 0,01 2,05
Non-interest income as % of total operating income 40,6 (2,3) 38,3
Revenue growth 1 2 3
Cost growth (4) (1) (5)
Cost-to-income ratio 56,2 (0,4) 55,8
Return on average assets 0,75 0,14 0,89
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18 July 2013
and/or the interim financial results booklet, published on 30 July 2013.
(2) Rest of Africa includes BAGL’s existing interests in Barclays Bank Mozambique S.A. (BBM), National Bank of Commerce
Limited (NBC) and Namibia.
Retail and Business Banking (RBB)
for the interim reporting period ended 30 June 2013
Group Geographic split
As BAGL
previously accounting Business
reported(1) policy portfolio BAGL South Rest of
changes BAL changes restated Africa Africa(2)
Rm Rm Rm Rm Rm Rm Rm
Net interest income 10 744 - 2 604 - 13 348 10 497 2 851
Impairment losses on loans and advances (3 479) - (306) - (3 785) (3 405) (380)
Non-interest income 7 016 (93) 819 22 7 764 6 728 1 036
Operating expenses (9 745) 93 (1 975) 53 (11 574) (9 145) (2 429)
Other (161) - (2) - (163) (152) (11)
Operating profit before income tax 4 375 - 1 140 75 5 590 4 523 1 067
Taxation expense (1 252) - (353) (13) (1 618) (1 246) (372)
Profit for the reporting period 3 123 - 787 62 3 972 3 277 695
Profit attributable to:
Ordinary equity holders of the Group 2 944 - 668 56 3 668 3 088 580
Non-controlling interest - ordinary shares 85 - 119 6 210 95 115
Non-controlling interest - preference shares 94 - - - 94 94 -
3 123 - 787 62 3 972 3 277 695
Headline earnings 2 901 - 668 56 3 625 3 041 584
Statement of financial position
Loans and advances to customers 414 683 - 31 955 - 446 638 411 703 34 935
Investment securities 959 - 5 923 - 6 882 952 5 930
Other assets 195 805 - 31 684 53 227 542 188 618 38 924
Total assets 611 447 - 69 562 53 681 062 601 273 79 789
Deposits due to customers 213 744 - 47 534 - 261 278 205 549 55 729
Debt securities in issue 3 313 - 19 - 3 332 3 313 19
Other liabilities 387 819 - 9 599 (9) 397 409 386 767 10 642
Total liabilities 604 876 - 57 152 (9) 662 019 595 629 66 390
Salient features - operating and financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Net interest margin on average interest-bearing assets 3,98 0,53 4,51
Impairment losses on loans and advances as % of average
loans and advances to customers 1,70 0,02 1,72
Non-interest income as % of total operating income 39,5 (2,7) 36,8
Revenue growth 6 4 10
Cost growth (2) (9) (11)
Cost-to-income ratio 54,9 (0,1) 54,8
Return on average assets 0,99 0,13 1,12
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18 July 2013
and/or the interim financial results booklet, published on 30 July 2013.
(2) Rest of Africa includes BAGL’s existing interests in Barclays Bank Mozambique S.A. (BBM), National Bank of Commerce
Limited (NBC) and Namibia.
Corporate, Investment Bank and Wealth (CIBW)
for the reporting period ended 31 December 2012
Group Geographic split
As
previously Business
reported(1) portfolio BAGL South Rest of
changes BAL changes restated Africa Africa(2)
Rm Rm Rm Rm Rm Rm
Net interest income 3 321 796 (14) 4 103 2 973 1 130
Impairment losses on loans and advances (223) 3 81 (139) (120) (19)
Non-interest income 5 208 1 227 (47) 6 388 5 070 1 318
Operating expenses (4 906) (1 140) (159) (6 205) (4 529) (1 676)
Other 21 1 - 22 24 (2)
Operating profit before income tax 3 421 887 (139) 4 169 3 418 751
Taxation expense (618) (273) 54 (837) (641) (196)
Profit for the reporting period 2 803 614 (85) 3 332 2 777 555
Profit attributable to:
Ordinary equity holders of the Group 2 710 528 (92) 3 146 2 682 464
Non-controlling interest - ordinary shares (2) 86 7 91 - 91
Non-controlling interest - preference shares 95 - - 95 95 -
2 803 614 (85) 3 332 2 777 555
Headline earnings 2 710 528 (92) 3 146 2 682 464
Statement of financial position
Loans and advances to customers 115 160 10 952 81 126 193 112 146 14 047
Investment securities 7 919 - - 7 919 7 919 -
Other assets 350 374 18 123 (196) 368 301 349 551 18 750
Total assets 473 453 29 075 (115) 502 413 469 616 32 797
Deposits due to customers 265 562 24 205 - 289 767 261 737 28 030
Debt securities in issue 82 987 1 - 82 988 82 988 -
Other liabilities 119 286 2 645 (30) 121 901 119 981 1 920
Total liabilities 467 835 26 851 (30) 494 656 464 706 29 950
Salient features - operating and financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Net interest margin on average interest-bearing assets 0,82 0,17 0,99
Impairment losses on loans and advances as % of average
loans and advances to customers 0,21 (0,9) 0,12
Non-interest income as % of total operating income 61,1 (0,2) 60,9
Revenue growth 11 - 11
Cost growth (3) (5) (8)
Cost-to-income ratio 57,5 1,6 59,1
Return on average assets 0,50 0,06 0,56
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18 July 2013
and/or the interim financial results booklet, published on 30 July 2013.
(2) Rest of Africa includes BAGL’s existing interests in Barclays Bank Mozambique S.A. (BBM), National Bank of Commerce
Limited (NBC) and Namibia.
Corporate, Investment Bank and Wealth (CIBW)
for the interim reporting period ended 30 June 2013
Group Geographic split
As
previously Business
reported(1) portfolio BAGL South Rest of
changes BAL changes restated Africa Africa(2)
Rm Rm Rm Rm Rm Rm
Net interest income 1 818 589 - 2 407 1 628 779
Impairment losses on loans and advances (69) 17 - (52) (32) (20)
Non-interest income 2 420 599 (22) 2 997 2 323 674
Operating expenses (2 522) (687) (53) (3 262) (2 323) (939)
Other (52) 1 - (51) (51) -
Operating profit before income tax 1 595 519 (75) 2 039 1 545 494
Taxation expense (323) (160) 13 (470) (303) (167)
Profit for the reporting period 1 272 359 (62) 1 569 1 242 327
Profit attributable to:
Ordinary equity holders of the Group 1 206 299 (56) 1 449 1 190 259
Non-controlling interest - ordinary shares 14 60 (6) 68 - 68
Non-controlling interest - preference shares 52 - - 52 52 -
1 272 359 (62) 1 569 1 242 327
Headline earnings 1 206 299 (56) 1 449 1 190 259
Statement of financial position
Loans and advances to customers 123 320 12 334 - 135 654 119 777 15 877
Investment securities 7 766 276 - 8 042 7 766 276
Other assets 380 546 24 360 (53) 404 853 379 882 24 971
Total assets 511 632 36 970 (53) 548 549 507 425 41 124
Deposits due to customers 276 770 32 764 - 309 534 272 978 36 556
Debt securities in issue 83 351 15 - 83 366 83 351 15
Other liabilities 147 837 3 321 9 151 167 147 506 3 661
Total liabilities 507 958 36 100 9 544 067 503 835 40 232
Salient features - operating and financial performance
As previously Reporting BAGL
reported(1) changes restated
% % %
Net interest margin on average interest-bearing assets 0,98 0,28 1,26
Impairment losses on loans and advances as % of average
loans and advances to customers 0,12 (0,04) 0,08
Non-interest income as % of total operating income 57,1 (1,6) 55,5
Revenue growth 3 5 8
Cost growth (3) (4) (7)
Cost-to-income ratio 59,5 0,8 60,3
Return on average assets 0,48 0,06 0,54
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18 July 2013
and/or the interim financial results booklet, published on 30 July 2013.
(2) Rest of Africa includes BAGL’s existing interests in Barclays Bank Mozambique S.A. (BBM), National Bank of Commerce
Limited (NBC) and Namibia.
Financial Services
There were no reporting changes impacting the Financial Services market segment for the reporting period ended 31 December
2012 or for the interim reporting period ended 30 June 2013.
Head office, inter-segment eliminations and Other
for the reporting period ended 31 December 2012
Group Geographic split
Net effect
of BAL
acquisition
accounting
As entries and Business
previously consolidation portfolio BAGL South Rest of
reported(1) adjustments changes restated Africa Africa(2)
Rm Rm Rm Rm Rm Rm
Net interest income 395 - - 395 418 (23)
Impairment losses on loans and advances 4 - - 4 4 -
Non-interest income (147) 1 - (146) (266) 120
Operating expenses 357 - 76 433 546 (113)
Other (99) - - (99) (100) 1
Operating profit before income tax 510 1 76 587 602 (15)
Taxation expense (154) (112) - (266) (153) (113)
Profit for the reporting period 356 (111) 76 321 449 (128)
Profit attributable to:
Ordinary equity holders of the Group 359 (111) 79 327 448 (121)
Non-controlling interest - ordinary shares (3) - (3) (6) 1 (7)
Non-controlling interest - preference shares - - - - - -
356 (111) 76 321 449 (128)
Headline earnings 371 (110) 79 340 462 (122)
Statement of financial position
Loans and advances to customers 345 (1) - 344 344 -
Investment securities (3 183) (1) - (3 184) (3 977) 793
Other assets (300 648) (344) 77 (300 915) (301 666) 751
Total assets (303 486) (346) 77 (303 755) (305 299) 1 544
Deposits due to customers (192) - - (192) (1) (191)
Debt securities in issue 20 156 - - 20 156 20 156 -
Other liabilities (378 752) (521) - (379 273) (380 326) 1 053
Total liabilities (358 788) (521) - (359 309) (360 171) 862
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18 July 2013
and/or the interim financial results booklet, published on 30 July 2013.
(2) Rest of Africa includes BAGL’s existing interests in Barclays Bank Mozambique S.A. (BBM), National Bank of Commerce
Limited (NBC) and Namibia.
Head office, inter-segment eliminations and Other
for the interim reporting period ended 30 June 2013
Group Geographic split
Net effect
of BAL
acquisition
accounting
As entries and Business
previously consolidation portfolio BAGL South Rest of
reported(1) adjustments changes restated Africa Africa(2)
Rm Rm Rm Rm Rm Rm
Net interest income (69) (1) - (70) (42) (28)
Impairment losses on loans and advances 3 (1) - 2 2 -
Non-interest income (190) 1 - (189) (189) -
Operating expenses 303 1 - 304 305 (1)
Other (135) (1) - (136) (136) -
Operating profit before income tax (88) (1) - (89) (60) (29)
Taxation expense (33) (75) - (108) (24) (84)
Profit for the reporting period (121) (76) - (197) (84) (113)
Profit attributable to:
Ordinary equity holders of the Group (119) (75) - (194) (83) (111)
Non-controlling interest - ordinary shares (2) (1) - (3) (1) (2)
Non-controlling interest - preference shares - - - - - -
(121) (76) - (197) (84) (113)
Headline earnings (115) (76) - (191) (82) (109)
Statement of financial position
Loans and advances to customers 148 - - 148 148 -
Investment securities (2 397) - - (2 397) (3 430) 1 033
Other assets (312 132) 148 - (311 984) (315 644) 3 660
Total assets (314 381) 148 - (314 233) (318 926) 4 693
Deposits due to customers (120) - - (120) - (120)
Debt securities in issue 19 571 - - 19 571 19 571 -
Other liabilities (392 436) (598) - (393 034) (396 072) 3 038
Total liabilities (372 985) (598) - (373 583) (376 501) 2 918
Notes
(1) Column refers to the restated amounts included in either the Reporting Changes document published on 18 July 2013
and/or the interim financial results booklet, published on 30 July 2013.
(2) Rest of Africa includes BAGL’s existing interests in Barclays Bank Mozambique S.A. (BBM), National Bank of Commerce
Limited (NBC) and Namibia.
The term BAGL or Group refers to Barclays Africa Group Limited, previously known as Absa Group Limited, together with its subsidiaries.
Certain statements in this document are forward looking that relate to, among other things, the plans, objectives,
goals, strategies, future operations and performance of the Group. Words such as “anticipates”, “estimates”, “expects”,
“projects”, “believes”, “intends”, “plans”, “may”, “will” and “should” and similar expressions are typically indicative of
a forward-looking statement. These statements are not guarantees of the Group’s future operating, financial or other
results and involve certain risks, uncertainties and assumptions. Accordingly, actual results and outcomes may differ
materially from these expressed or implied by such statements. Barclays Africa makes no representation or warranty, express
or implied, that the operating, financial or other results anticipated by such forward-looking statements will be
achieved and such forward-looking statements represent, in each case, only one of many possible scenarios and should not be
viewed as the most likely or standard scenario. Barclays Africa undertakes no obligation to update the historical
information or forward-looking statements in this document.
The information in this announcement does not comprise statutory accounts or interim financial statements within the meaning of
section 29 of the Companies Act, No 71 of 2008 (as amended) and IAS 34 respectively.
Date: 02/12/2013 04:47:00 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.
