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SASFIN HOLDINGS LIMITED - Capital Adequacy- quarterly report 30 September 2013

Release Date: 04/12/2013 16:12
Code(s): SFN SFNP     PDF:  
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Capital Adequacy- quarterly report 30 September 2013

SASFIN HOLDINGS LIMITED

(Incorporated In the Republic Of South Africa)

Registration Number 1987/002097/06)

Ordinary share code: SFN ISIN: ZAE000006565

Preference share code: SFNP ISIN: ZAE000060273

(“Sasfin” or “the Group”)





SASFIN HOLDINGS LIMITED AND ITS SUBSIDIARIES



CAPITAL ADEQUACY – QUARTERLY REPORT 30 SEPTEMBER 2013



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 III, 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 Sasfin Group’s quantitative information relating to its Capital and Capital Adequacy levels as at 30 September 2013, and meets

the ongoing reporting requirements for a quarterly disclosure in terms of Pillar 3 of the Basel III Accord.



The qualitative information regarding the Group's Capital Management Plan and Strategy is fully disclosed in the Group's 2013 Integrated Annual Report

and Audited Annual Financial Statements.



This information is available on the website: www.sasfin.com.









                                                                       Sasfin Holdings Limited                            Sasfin Bank and Subsidiaries



                                                                         R'000                   %age                     R'000                   %age



 1.   Total Risk weighted assets & exposures                                  4 704 809                                     3 879 954

      Credit risk                                                             2 485 050                                     2 471 049

      Operational risk                                                           748 142                                       403 894

      Market

      risk                                                                       245 396                                       245 396

      Equity investment

      risk                                                                       468 249                                        35 749

      Securitisation risk                                                        550 614                                       550 614

      Other risk                                                                 207 359                                       173 252

 2.   Common Equity Tier 1 Capital                                               904 573        19.23                          783 844            20.20

      Share Capital & Premium                                                    145 236                                       313 476

      Retained Earnings                                                        1 052 560                                       582 860

      Prescribed deductions and non-qualifying reserves                         -293 223                                      -112 492

      Additional Tier 1

 3.   Capital

      Non-redeemable preference share capital                                   179 350          3.81                              -               -

 4.   Total Tier 1 Capital                                                    1 083 923         23.04                          783 844            20.20

 5.   Tier 2 Capital                                                            123 874          2.63                           82 874             2.14

      Sub-ordinated Debt                                                74 205                                                74 205

      General other

      reserves                                                          45 898                                                 4 898

      General allowance for credit impairment                            3 771                                                 3 771



      Total Qualifying Capital & Capital Adequacy ratio                        1 207 797        25.67                          866 718            22.34

 6.   Minimum Required Capital & Reserves                                        446 957         9.50                          368 596             9.50





7.    The South African economy faced a challenging environment, amid quantitative easing inflicted pressures and continued strike activity, rand volatility

       has escalated affecting growth levels required to stimulate the economy.



      Notwithstanding the above the Sasfin Bank Group remained well capitalised as at 30 September 2013 with a total capital adequacy ratio of 26%

      and a Tier 1 capital adequacy ratio of 23%, significantly exceeding minimum regulatory requirements.





4 December 2013

Johannesburg



Lead Sponsor

KPMG Services (Pty) Limited



Joint Sponsor

SASFIN CAPITAL A DIVISION OF SASFIN BANK LIMITED


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