MILESTONES FOR THE SIX MONTHS ENDING 31 MARCH 2022
- Group profits up 145% to R372 million (H1 21: R152 million)
- Retail disbursements outperforming FY19 pre-Covid-19 levels
- Growing balance sheet with a strong available cash resources of R4.8 billion
- High equity capital levels of R11.5 billion, resulting in a total group capital adequacy ratio of 45.8%
- Rated number 1 retail bank for customer satisfaction in March 2022 South African Customer Satisfaction Index (SA-csi)
- Gross advances R30 billion; 11% higher than a year ago
- Provisioning coverage adequate at 33.7%
- Robust new retail loans disbursed growing at 89% to R6 351 million in the six months
- Inaugural corporate loan of R1.5 billion advanced to strategic partner
- Improved credit loss ratio of 4.6%, from 6.1% a year ago.
- Group profit after tax of R372 million (H1 21: R152 million)
- Resulting in positive 6.6% return on equity for the period (H1 21: 2.9%)
RETAIL SAVINGS AND MyWORLD TRANSACTIONAL BANKING
- Steady retail savings deposit book growth of 27% to R10 957 million
- MyWORLD transactional accounts steadily increasing to 967 000 opened accounts (H1 21: 558 000), of which 512 000 (H1 21: 290 000) are funded accounts, a growth of 76% year on year.
- Transactional volumes rising to 14.5 million, representing R19.6 billion in value in current period.
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