Full annual report - African Bank - Investoreports

Condensed segmental income statement
for the year ended 30 September 2012
R million
56
%
change
30 September 2012 (Audited)
ABIL
group
Banking
unit
Gross margin on retail business 2 2 134 –
Interest income on advances 36 9 919 9 823
Assurance income 29 3 828 3 401
Non-interest income 12 3 291 3 018
Income from operations 25 19 172 16 242
Credit impairment charge 45 (5 197) (5 170)
Claims paid 49 (912) (918)
Risk adjusted income from operations 18 13 063 10 154
Product insurance claims (12) (60) –
Other interest and investment income (35) 219 324
Interest expense 29 (3 680) (3 771)
Operating costs 11 (5 467) (2 957)
Indirect taxation: VAT 7 (72) (72)
Profit from operations 14 4 003 3 678
Capital items (>100) (6) –
Profit before taxation 14 3 997 3 678
Direct taxation: STC (46) (82) (2)
Direct taxation: Normal 14 (1 112) (1 038)
Profit for the year 18 2 803 2 638
Intersegment revenues included in income from operations are for the Retail unit only and amount to R206 million
(2011: R122 million).
R million
%
change
30 September 2012 (Audited)
ABIL
group
Banking
unit
Profit for the year (basic earnings) 18 2 803 2 638
Preference shareholders 91 (61) (61)
Basic earnings attributable to ordinary shareholders 17 2 742 2 577
Adjustments for non-headline items: 12 3
Gross adjustments 17 4
Tax thereon (5) (1)
Headline earnings 18 2 754 2 580