Full annual report - African Bank - Investoreports

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1-22 23-82 83-196 197-320 321-328 329-354 i Contents Scope and boundary of this report ifc ABIL in perspective Group profile 2 Operating structure 3 2012 in perspective 4 Our values 5 Our history 6 Strategic framework 8 Financial statistics 9 Our stakeholders 12 Shareholders’ profile 13 10-year statistics and financial definitions 14 ABIL board of directors 18 Business overview Letter to stakeholders 24 Material issues 36 Strategic review 38 Stakeholder engagement 44 Financial and operational review 52 Accountability Corporate governance report 84 Remuneration report 93 Risk report 106 Sustainable development 134 Independent verification statement 178 Assurance statement 180 GRI index 182 Annual financial statements 197 Shareholder information Dividend declaration 322 Shareholders’ diary 324 Listings information 324 Credit rating 324 JSE statistics 325 Analysis of ordinary shareholders 325 Analysis of preference shareholders 328 Annual general meeting Notice of annual general meeting 330 Directors’ curricula vitae 342 Remuneration policy of ABIL 344 Paragraph 11.26 information 346 Application form: Electronic participation 349 Form of proxy 351 Corporate information ibc Two subsidiaries of ABIL, African Bank Limited and Ellerine Furnishers (Proprietary) Limited, are authorised financial services and registered credit providers.
Contents Group profi le 2 Operating structure 3 2012 in perspective 4 Our values 5 Our history 6 Strategic framework 8 ABIL in perspective 1-22 Financial statistics 9 Our stakeholders 12 Shareholders’ profi le 13 10-year statistics and fi nancial defi nitions 14 ABIL board of directors 18 African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 1
Page 1 and 2: Responsible credit with passion, co
Page 3: ABIL group - shareholders, funders,
Page 7 and 8: Operating structure >ABIL in perspe
Page 9 and 10: Our values We pledge to live by the
Page 11 and 12: ‘03 ABIL achieves investment grad
Page 13 and 14: African Bank Investments Limited Fi
Page 15 and 16: African Bank Investments Limited Fi
Page 17 and 18: Shareholders’ profile Top fund ma
Page 19 and 20: 2007 2006 2005 2004 2003 >ABIL in p
Page 21 and 22: 2007 2006 2005 2004 2003 >ABIL in p
Page 23 and 24: Robert John (Johnny) Symmonds (53)
Page 25 and 26: Mojankunyane Florence (Mojanku) Gum
Page 27 and 28: Contents Letter to stakeholders 24
Page 29 and 30: Incwadi eya kubabambiqhaza Isingeni
Page 31 and 32: Ulwazi oluhambelanayo lungatholakal
Page 33 and 34: Umhlaba oncintisanayo Ukukhula okuk
Page 35 and 36: labele izidingongqangi ezikhulayo e
Page 37 and 38: Ukuze uthole olunye ulwazi ngemizam
Page 39 and 40: ngo-1994. Wenze ukufaka isandla oku
Page 41 and 42: usiness overview Material issue Why
Page 43 and 44: For more information on people rela
Page 45 and 46: egistered some short term gains and
Page 47 and 48: What sets us apart Quality of our p
Page 49 and 50: Active engagement with our people i
Page 51 and 52: Our customers Engagement methods St
Page 53 and 54: 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
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2012 2011 Unamortised discount Net
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2012 2011 Unamortised discount Net
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Foreign currency translation Foreig
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Interest capitalised 2012 2011 Unam
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annual financial statements 2012 20
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Page 285 and 286:
Page 287 and 288:
annual financial statements 2012 20
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Page 291 and 292:
annual financial statements 46. Fin
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R million Up to 1 month Greater tha
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Page 297 and 298:
Page 299 and 300:
annual financial statements Index t
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R million Carrying value at year en
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annual financial statements 49. Int
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annual financial statements 50. Lon
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51. Analysis of financial assets an
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annual financial statements 51. Ana
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annual financial statements 55. Ret
Page 313 and 314:
annual financial statements 58. Res
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Company statement of comprehensive
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Notes to the company annual financi
Page 319 and 320:
Page 321 and 322:
Page 323 and 324:
Prefsure (Botswana) Limited Insuran
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Contents Shareholder information Di
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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
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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
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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Full annual report - African Bank - Investoreports

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