Full annual report - African Bank - Investoreports

Notes to the group annual financial statements continued
57. Related party information
57.1 Relationship between holding company and subsidiaries
African Bank Investments Limited holds 100% of (inter alia) African Bank Limited, Ellerine Holdings Limited, Theta
Investments (Proprietary) Limited and The Standard General Insurance Company Limited (Stangen). Details of
investment in subsidiaries/controlled entities are disclosed in appendix B. All group subsidiaries were wholly owned
at 30 September 2011.
308
57.2 Related party balances and transactions
African Bank Investments Limited (ABIL) has entered into financial transactions with its subsidiaries.
R million 2012 2011
Loan owing to ABIL by ABL – 20
Loan owing by ABIL to ABL 235 –
235 –
58.
The highest balance during the year of the loan between African Bank Limited and African Bank Investments Limited
was R235 million (2011: R291 million). The loan is unsecured, interest free and is repayable no later than 30 June 2013.
Restatement and reclassification of comparatives
58.1 Interest expense categories
The interest expense in the 2011 financial year recognised for different categories of financial liabilities disclosed in
note 51.2 has been restated.
The effect of the restatement is disclosed below:
R million As previously reported
Interest expense recognised for financial liabilities at amortised cost 2 850
Interest expense recognised for financial liabilities at fair value –
Total 2 850
R million As restated
Interest expense recognised for financial liabilities at amortised cost 2 578
Interest expense recognised for financial liabilities at fair value 272
Total
This is merely a reclassification with no impact on the financial results of the group.
2 850