Full annual report - African Bank - Investoreports

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Notes to the group annual financial statements continued R million 2012 2011 12. Intangible assets Cost 1 043 1 043 264 Market position 1 – Ellerines, Town Talk, FurnCity and Savells/Fair Deal 710 710 Market position 2 – Beares, Lubners 174 174 Market position 3 – Furniture City 16 16 Market position 4 – Geen & Richards 64 64 Dial-a-Bed and Mattress Factory 20 20 Wetherlys and Osiers 47 47 Rainbow Loans 12 12 Amortisation (343) (271) Market position 1 – Ellerines, Town Talk, FurnCity and Savells/Fair Deal (245) (192) Market position 2 – Beares, Lubners (54) (43) Market position 3 – Furniture City (5) (4) Market position 4 – Geen & Richards (17) (14) Dial-a-Bed and Mattress Factory (7) (6) Wetherlys (14) (11) Rainbow Loans (1) (1) Impairment (17) (11) Mattress Factory (2) – Osiers (4) – Rainbow Loans (11) (11) Net carrying value 683 761 Reconciliation of carrying value Movements during the year: Balance at the beginning of the year 761 834 Amortisation (72) (73) Impairment (6) – Balance at the end of the year 683 761
R million Balance at the beginning of the year Amortisation Impairment >annual financial statements Balance at the end of the year 12. Intangible assets continued 12.1 Trademarks per brand 2012 Ellerines 276 (17) – 259 Town Talk 124 (18) – 106 FurnCity 89 (13) – 76 Savells/Fairdeal 29 (5) – 24 Beares 96 (6) – 90 Lubners 35 (5) – 30 Furniture City 12 (1) – 11 Geen & Richards 50 (3) – 47 Dial-a-Bed 12 (1) – 11 Mattress Factory 2 – (2) – Wetherlys 32 (3) – 29 Osiers 4 – (4) – 761 (72) (6) 683 Trademarks represent registered rights to the exclusive use of certain trademarks and brand names and have been stated at fair value determined by external trademark valuation specialists on acquisition of Ellerines, using the royalty relief method. R million 2012 2011 13. Goodwill Net carrying value of goodwill Cost at the beginning and end of the year 5 472 5 472 13.1 Goodwill allocation African Bank 4 000 4 000 Market position 1 – Ellerines, Town Talk, FurnCity and Savells/Fair Deal 784 861 Market position 2 – Beares, Lubners 137 152 Market position 3 – Furniture City 32 32 Market position 4 – Geen & Richards 290 290 Dial-a-Bed and Mattress Factory 98 98 Wetherlys and Osiers 39 39 Rest of Africa 92 – Net carrying value of goodwill 5 472 5 472 African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 265
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Responsible credit with passion, co
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ABIL group - shareholders, funders,
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Contents Group profi le 2 Operating
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Operating structure >ABIL in perspe
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Our values We pledge to live by the
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‘03 ABIL achieves investment grad
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African Bank Investments Limited Fi
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African Bank Investments Limited Fi
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Shareholders’ profile Top fund ma
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2007 2006 2005 2004 2003 >ABIL in p
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2007 2006 2005 2004 2003 >ABIL in p
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Robert John (Johnny) Symmonds (53)
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Mojankunyane Florence (Mojanku) Gum
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Contents Letter to stakeholders 24
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Incwadi eya kubabambiqhaza Isingeni
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Ulwazi oluhambelanayo lungatholakal
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Umhlaba oncintisanayo Ukukhula okuk
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labele izidingongqangi ezikhulayo e
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Ukuze uthole olunye ulwazi ngemizam
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ngo-1994. Wenze ukufaka isandla oku
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usiness overview Material issue Why
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For more information on people rela
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egistered some short term gains and
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What sets us apart Quality of our p
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Active engagement with our people i
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Our customers Engagement methods St
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ABIL engaged with a wide group of l
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The most important of these are dis
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The risk base of the group is not c
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Return on equity in line with targe
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Retail unit Consolidation adjustmen
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Retail unit Consolidation adjustmen
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Share based payment reserve Other O
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Financial returns >business overvie
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Gross profit margin % 46 44 42 41 3
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were launched in October. The virtu
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Number of employees - Banking unit
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Of the credit cards issued in 2012,
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Disbursement features Disbursements
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Vintage graph - African Bank (More
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Liabilities Funding >business overv
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Capital management >business overvi
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The changes to capital adequacy on
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Contents Corporate governance repor
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Corporate governance structure Grou
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Board meetings and attendance >acco
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Conflict of interest All directors
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The office of the group compliance
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Introduction and report objectives
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■ Ensuring that there is an adequ
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Component Summary Benefits Benefits
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Exposure to existing long term ince
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The components of executive directo
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LTIPs awarded to executive director
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accountability the annual general m
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Risk management objectives >account
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Three levels of defence as applied
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Case volumes received: Year-on-year
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For more detail, see the group’s
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accountability Risk Mitigation Furt
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accountability Risk Mitigation Furt
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expectation that losses will occur
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Refer to page 74 and 76 in the inte
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ABIL - capital adequacy ratio % 25
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Liquidity and funding The group man
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deposits at highly competitive rate
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Regulatory risk South Africa’s cu
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Regulatory issue Description Risk/I
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Regulatory issue Description Risk/I
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Dear Sir/Madam In the year 2009 I e
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Scorecard information* Target score
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GRI SO1 For a detailed report on CS
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accountability Overall employee tur
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The Banking unit has increased the
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accountability Transformation and e
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Union membership 2012 47,8% 52,0% 0
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Employee turnover % 45 40 35 30 25
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Union membership % 70 60 50 40 30 2
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Transformation and employment equit
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■ C = Collect; ■ A = Advise;
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GRI PR7 GRI PR8 GRI PR9 Customer ex
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GRI PR1, PR2 >accountability condit
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GRI EC8, EC9, S01 >accountability l
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Number of projects 9% 5% ■ KwaZul
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Ilembe schools connectivity project
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For more information on CSI visit h
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accountability and measured against
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GRI EN18 Weaknesses and shortfalls
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GRI EN2 >accountability Paper savin
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GRI EN30 Community engagement >acco
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Case studies Cato Ridge Epping The
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est practice) gasses are absent and
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Findings Based on our review of the
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Description Explanation 2.7 Markets
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Description Explanation 4.8 Interna
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Description Explanation EC4 Signifi
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Description Explanation Emissions,
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Description Explanation Occupationa
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Description Explanation Freedom of
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Description Explanation Customer he
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Annual financial statements 197-320
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45.1 Operating segments 285 45.2 Se
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Dividend cover (times) Dividend cov
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Acronyms and abbreviations ABIL Afr
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Nine-year summarised group income s
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Currency adjusted group income stat
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Directors’ responsibility stateme
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Audit committee report The audit co
Page 217 and 218: Domestic Medium Term Note (DMTN) Pr
Page 219 and 220: Interest of directors of the compan
Page 221 and 222: ■ Granting the general approval t
Page 223 and 224: Group income statement for the year
Page 225 and 226: Share based payment reserve Cash fl
Page 227 and 228: Notes to the group annual financial
Page 229 and 230: IFRS/IFRIC Title and details Expect
Page 231 and 232: IFRS/IFRIC Title and details Expect
Page 233 and 234: 3. Critical accounting judgements a
Page 235 and 236: 3.2.2 Impairment of advances >annua
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Page 239 and 240: Business combinations >annual finan
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Page 243 and 244: 4.10.3 Subsequent measurement >annu
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Page 247 and 248: annual financial statements Bank or
Page 249 and 250: annual financial statements For the
Page 251 and 252: annual financial statements Ordinar
Page 253 and 254: 4.20 Cost of sales 4.19.3.4 Deliver
Page 255 and 256: annual financial statements The sha
Page 257 and 258: annual financial statements the exp
Page 259 and 260: annual financial statements R milli
Page 261 and 262: 9. Net advances continued 9.1 Credi
Page 263 and 264: 9. Net advances continued 9.1 Credi
Page 265 and 266: R million Opening balance Recognise
Page 267: R million Carrying value at the beg
Page 273 and 274: 2012 2011 Unamortised discount Net
Page 275 and 276: 2012 2011 Unamortised discount Net
Page 277 and 278: Foreign currency translation Foreig
Page 279 and 280: Interest capitalised 2012 2011 Unam
Page 281 and 282: annual financial statements 2012 20
Page 287 and 288: annual financial statements 2012 20
Page 291 and 292: annual financial statements 46. Fin
Page 293 and 294: R million Up to 1 month Greater tha
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Page 301 and 302: R million Carrying value at year en
Page 303 and 304: annual financial statements 49. Int
Page 305 and 306: annual financial statements 50. Lon
Page 307 and 308: 51. Analysis of financial assets an
Page 309 and 310: annual financial statements 51. Ana
Page 311 and 312: annual financial statements 55. Ret
Page 313 and 314: annual financial statements 58. Res
Page 315 and 316: Company statement of comprehensive
Page 317 and 318: Notes to the company annual financi
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annual financial statements R milli
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annual financial statements R milli
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Prefsure (Botswana) Limited Insuran
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Contents Shareholder information Di
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Dividend timetable >shareholder inf
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JSE statistics >shareholder informa
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Analysis of ordinary shareholders a
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Contents Annual general meeting Not
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3. Ordinary resolution 3 - Election
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annual general meeting As the revis
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annual general meeting 9.1 immediat
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annual general meeting 11.3.3 repur
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Motivation for ordinary resolution
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annual general meeting message util
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Leonidas (Leon) Kirkinis Chief exec
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higher. Qualifying participants are
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(iv) Directors’ interests in secu
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Application form: Electronic partic
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Form of proxy African Bank Investme
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annual general meeting Summary of s
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Corporate information Board of dire
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Full annual report - African Bank - Investoreports

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