Full annual report - African Bank - Investoreports

Currency adjusted group income statement
for the year ended 30 September 2012
>annual financial statements
R million USD million
2012 2011 2012 2011
Gross margin on retail business 2 134 2 083 264 300
Interest income on advances 9 919 7 308 1 229 1 051
Assurance income 3 828 2 962 474 426
Non-interest income 3 291 2 930 408 421
Income from operations 19 172 15 283 2 375 2 198
Credit impairment charge (5 197) (3 596) (644) (517)
Claims paid (912) (612) (113) (88)
Risk adjusted income from operations 13 063 11 075 1 618 1 593
Product insurance claims (60) (68) (7) (10)
Other interest and investment income 219 339 27 49
Interest expense (3 680) (2 850) (456) (410)
Operating costs (5 467) (4 931) (677) (709)
Indirect taxation: VAT (72) (67) (9) (10)
Profit from operations 4 003 3 498 496 503
Capital items (6) 1 (1) –
Profit before taxation 3 997 3 499 495 503
Direct taxation: STC and Normal (1 194) (1 128) (148) (162)
Profit for the year 2 803 2 371 347 341
Per share statistics
Basic earnings per share (cents) 341,0 291,0 42,3 41,9
Headline earnings per share (cents) 342,5 291,0 42,4 41,9
Weighted number of shares in issue (million) 804,0 803,7 804,0 803,7
Reconciliation of headline earnings
Basic earnings attributable to ordinary shareholders 2 742 2 339 340 341
Adjustment for non headline items:
Gross adjustment 17 – 3 –
Tax thereon (5) – (1) –
Headline earnings 2 754 2 339 342 341
Rate used for currency conversion
Average rate 1,00 1,00 8,07 6,95
African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 207