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Appendix E Interest in joint venture The group has a 40% interest in a joint venture, entered into with the Standard Bank of South Africa, which provides products and services in the credit banking industry. The following amounts represent the group’s share of the assets and liabilities and revenue and expenses of the joint venture and are included in the consolidated balance sheet and income statement: African Bank Investments Limited 130 2003 2002 R000 R000 Interest-bearing assets 166 095 126 692 Non-interest-bearing assets 149 728 Interest-bearing borrowings 122 738 106 716 Provisions for liabilities and charges 14 775 7 715 Profit before taxation 22 484 17 105 Taxation (6 745) (5 132) Profit after taxation 15 739 11 973 Proportionate interest in joint venture commitments – – The group has a 50% interest in a joint venture, entered into with Teba Bank, which provides products and services in the credit banking industry. The following amounts represent the group’s share of the assets and liabilities and revenue and expenses of the joint venture and are included in the consolidated balance sheet and income statement: 2003 2002 R000 R000 Interest-bearing assets 165 810 185 253 Non-interest-bearing assets 8 928 19 753 Interest-bearing borrowings 18 548 89 018 Provisions for liabilities and charges 17 975 14 566 Profit before taxation 64 680 64 589 Taxation (19 415) (19 743) Profit after taxation 45 265 44 846 Proportionate interest in joint venture commitments – –
Appendix F Group structure and profile 53% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% AFRICAN BANK LIMITED Credit Banking 100% DIVISIONS – AB Retail – Credit Indemnity – Commercial Vehicle Finance – ABCommerce – Collections Standard Bank joint venture Alternative Finance •� King Finance •� Liberal Holdings •� Unity Financial Services •� African Contractor Finance 3 Gilt Edged Management 3 Services Miners Credit Guarantee 2 and extended group Credit Indemnity •� A1 Taxi House •� A1 Taxi Finance •� � Dormant • Have been divisionalised into African Bank Limited 1 Property companies 2 Being divisionalised 3 Being wound down AFRICAN BANK INVESTMENTS LIMITED THETA INVESTMENTS (PTY) LIMITED Investments 100% THE STANDARD AND GENERAL INSURANCE COMPANY LIMITED Insurance 100% Credit Save 1 Union Micro Loans � Theta Capital � Assure Direct � Credit Direct � Soletrade Seven t/a Quatro 131 100% Credit Indemnity Property1 100% Goodbye Property 1 100% BTU Trading and Underwriting � 100% BSG Management Co. � 100% Garganey Investments � 100% 100% 100% 100% 100% 100% African Bank Investments Limited
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African Bank Investments Limited AN
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2,5 2,0 1,5 1,0 0,5 0 JSE statistic
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Five-year history Four-year compoun
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Features 35 30 25 20 15 10 5 0 Head
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Focus and strategy The focus of the
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Profile African Bank Investments Li
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1994 Formation of investment trust
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Performance against key objectives
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Short to medium-term objectives OBJ
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African Bank Investments Limited We
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Letter to stakeholders ABIL believe
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Incwadi eya kwabanezabelo iqhutshiw
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Currency adjusted group balance she
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Management discussion Overview Key
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12 months ended 12 months ended 30
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Capital adequacy model Non-performi
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8 000 7 000 6 000 5 000 4 000 3 000
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Sales analysis - number and average
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excluding the Saambou PLB acquisiti
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The improved credit conditions are
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ook and the written-off book. To th
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Statement of average balances Weigh
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Divisional reports Operationally, A
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collection strike rates, which has
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ABIL also expanded its portfolio to
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Collections business unit. Its most
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Issue arising Corrective action req
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Skills and experience of the board
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Corporate governance continued regu
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from the committee responsible for
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that the risk policies and strategi
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Table 1: Remuneration and fees Serv
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Risk review ABIL views risk as an i
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Risk review continued Undesirable r
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Top ten risks Mitigating factors Ri
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Credit risk African Bank Retail Cre
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on a regular basis to ensure proper
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Social commitment Given the nature
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Embarking on a journey The process
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The progress The corporate social c
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Shareholders’ information Number
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agreements, to ensure that the mate
Page 97 and 98: The interest rate charged is determ
Page 99 and 100: Continued effort and focus will go
Page 101 and 102: services of the best employees. The
Page 103 and 104: The African Bank Foundation accepts
Page 105 and 106: Index to global reporting initiativ
Page 107 and 108: Directors’ responsibility The dir
Page 109 and 110: Directors’ report 30 September 20
Page 111 and 112: INTEREST OF THE DIRECTORS IN THE SH
Page 113 and 114: n4 The strike prices of the share o
Page 115 and 116: Income statement for the year ended
Page 117 and 118: Cash flow statement for the year en
Page 119 and 120: Equity accounted income, which is i
Page 121 and 122: 1.9 Revenue recognition Interest in
Page 123 and 124: Group Company 2003 2002 2003 2002 R
Page 129 and 130: 111 Group 2003 2002 R000 R000 12. L
Page 135 and 136: 117 Group 2003 2002 R000 R000 25. R
Page 139 and 140: One to Four to Beyond Non-interest
Page 141 and 142: One to Four to Beyond Up to one thr
Page 143 and 144: 125 Group 2003 2002 R000 R000 37. O
Page 145 and 146: Appendix B Investments in associate
Page 147: Appendix D Segmental advances and p
Page 151 and 152: 3.4.4 ensure that a comprehensive s
Page 153 and 154: 7.4.3 All directors are required to
Page 155 and 156: 6.3 any general payment shall be ma
Page 157 and 158: 13.6 Any repurchases shall comply w
Page 159 and 160: DIRECTORS’ CURRICULUM VITAES Anto
Page 161 and 162: 6. Isinqumo esejwayelekile esinguno
Page 163 and 164: 12.9.1 kuyokwenziwa ngokulandela uM
Page 165 and 166: 16. Ukuvota nezithunywa Bonke abani
Page 167 and 168: Form of proxy AFRICAN BANK INVESTME
Page 169 and 170: Ifomu yokuqoka isithunywa esizokume
Page 171 and 172: Members of the ABIL board ASHLEY SE
Page 173 and 174: RAMANI NAIDOO (41) BA LLB Non-execu
Page 175 and 176: Corporate information COMPANY REGIS
Page 177 and 178: GRAPHICOR 30006
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