MILESTONES FOR THE FINANCIAL YEAR ENDING 30 SEPTEMBER 2021
- Group returns to profitability for the year of R534 million (FY20: R27 million loss)
- Robust balance sheet with a strong liquidity profile and high available cash resources of R9.0 billion to support new growth strategy
- High equity capital levels of R11.2 billion, resulting in a total group capital adequacy ratio of 43.3%
- Retail deposit growth of 73% year-on-year, resulting in R10.3 billion deposit book
- Rated best Contact Centre and Branch Network in the 2020 independent South African Customer Satisfaction Index (SA-csi) released in 2021
- Gross advances R26.725 billion; 6% lower year-on-year
- Provisioning coverage maintained at 37.5%
- New loans disbursed show slight 2% increase in FY21 to 6 931 million. Strong collections and improved scorecards allow for measured relaxation of conservative credit granting criteria.
- Improved credit loss ratio of 4.9%, from 11.7% a year ago.
- Group profit after tax of R534 million (FY 20: R27 million loss)
- Resulting in positive 4.9% return on equity for the year (FY 20: negative 0.3%)
RETAIL SAVINGS AND MyWORLD TRANSACTIONAL BANKING
- Significant retail savings deposit book growth of 73% to R10 315 million
- MyWORLD transactional accounts steadily increasing to 741 000 opened accounts (FY20: 388 million), of which 398 000 (FY20: 200 000) are funded accounts, a growth of 99% year on year.
- Transactional volumes rising to 17.3 million (FY20: 7.3 million), representing R24.5 billion (FY20: R8.7 billion) in value in current year.
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