Full annual report - African Bank - Investoreports

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Appendix A: Group structure and profile 318 African Bank Limited Credit Banking 100% Theta Investments (Proprietary) Limited Investments 100% African Contractor Finance 1 Gilt Edged Management Services Miners Credit Guarantee and subsidiaries Soletrade Seven t/a Quatro 1 Q t All entities are wholly owned The Standard General Insurance Company Limited Long term insurance Credit Save ABIL Employee Share Trust l Ellerine Holdings Limited and subsidiaries ■ Investments i 1 Being wound down Dormant Q Has been divisionalised into African Bank Limited l Trust ■ Ellerine Holdings Limited detailed organogram is on the following page t t
Prefsure (Botswana) Limited Insurance Ellerine Retail Limited Retail Holding Company Ellerine Trading (Proprietary) Limited 1 Ellerine Retail (Botswana) (Proprietary) Limited Relyant Life Assurance Company Limited Ellerine Management Services (Proprietary) Limited 1 Ellerine TM (Proprietary) Limited 1 Ellerine Personal Finance (Proprietary) Limited 1 Ellerine Credit Finance (Proprietary) Limited 1 Ellerine Retail (Namibia) (Proprietary) Limited Relyant Retail (Swaziland) (Proprietary) Limited Geen & Richards (Swaziland) (Proprietary) Limited 1 Relyant Insurance Company Limited Insurance Ellerine Services (Proprietary) Limited Investments Ellerine Furnishers (Namibia) (Proprietary) Limited i Customer Protection Insurance Company (Namibia) (Proprietary) Limited 1 Non-trading – dormant 2 Financial services provider All entities are wholly owned ellerine holdings limited >annual financial statements Customer Protection Insurance Company Limited Insurance Ellerine Properties (Proprietary) Limited 1 Ellerines Furnishers (Botswana) (Proprietary) Limited Ellerine Furnishers (Lesotho) (Proprietary) Limited Ellerines Furnishers (Swaziland) (Proprietary) Limited Ellerine Furnishers (Zambia) (Proprietary) Limited Hedgeley Investments (Proprietary) Limited 1 Ellerine Properties (Flagstaff) (Proprietary) Limited 1 Ellerine Properties (Giyani) (Proprietary) Limited 1 Ellerine Properties (Idutywa) (Proprietary) Limited 1 Ellerine Estate (Swaziland) (Proprietary) Limited 1 Ellerine Properties (Botswana) (Proprietary) Limited 1 Town Talk Furnishers (Bushbuckridge) (Proprietary) Limited 1 Riotone (Proprietary) Limited Ellerine Furnishers (Proprietary) Limited 2 Retail Company Ellerines Development (Butterworth) (Proprietary) Limited 1 Ellerines Development (Engcobo) (Proprietary) Limited 1 Ellerines Development (Umtata) (Proprietary) Limited 1 African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 319
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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
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Domestic Medium Term Note (DMTN) Pr
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Interest of directors of the compan
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■ Granting the general approval t
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Group income statement for the year
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Share based payment reserve Cash fl
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Notes to the group annual financial
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IFRS/IFRIC Title and details Expect
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IFRS/IFRIC Title and details Expect
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3. Critical accounting judgements a
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3.2.2 Impairment of advances >annua
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annual financial statements practic
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Business combinations >annual finan
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annual financial statements payment
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4.10.3 Subsequent measurement >annu
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annual financial statements A finan
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annual financial statements Bank or
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annual financial statements For the
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annual financial statements Ordinar
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4.20 Cost of sales 4.19.3.4 Deliver
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annual financial statements The sha
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annual financial statements the exp
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annual financial statements R milli
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9. Net advances continued 9.1 Credi
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9. Net advances continued 9.1 Credi
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R million Opening balance Recognise
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R million Carrying value at the beg
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R million Balance at the beginning
Page 271 and 272: annual financial statements R milli
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
Page 299 and 300: annual financial statements Index t
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
Page 321: annual financial statements R milli
Page 325 and 326: Contents Shareholder information Di
Page 327 and 328: Dividend timetable >shareholder inf
Page 329 and 330: JSE statistics >shareholder informa
Page 331 and 332: Analysis of ordinary shareholders a
Page 333 and 334: Contents Annual general meeting Not
Page 335 and 336: 3. Ordinary resolution 3 - Election
Page 337 and 338: annual general meeting As the revis
Page 339 and 340: annual general meeting 9.1 immediat
Page 341 and 342: annual general meeting 11.3.3 repur
Page 343 and 344: Motivation for ordinary resolution
Page 345 and 346: annual general meeting message util
Page 347 and 348: Leonidas (Leon) Kirkinis Chief exec
Page 349 and 350: higher. Qualifying participants are
Page 351 and 352: (iv) Directors’ interests in secu
Page 353 and 354: Application form: Electronic partic
Page 355 and 356: Form of proxy African Bank Investme
Page 357 and 358: annual general meeting Summary of s
Page 359 and 360: Corporate information Board of dire
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