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SFN SFNP
SFN
SFN/SFNP - Sasfin Holdings Limited - Annual report on Basel II capital adequacy
requirements 30 June 2008
SASFIN HOLDINGS LIMITED
(Incorporated In The Republic Of South Africa)
(Registration Number 1987/002097/06)
("Sasfin" or "the Group")
Ordinary share code: SFN ISIN: ZAE000006565
Preference share code: SFNP ISIN: ZAE000060273
ANNUAL REPORT ON BASEL II CAPITAL ADEQUACY REQUIREMENTS 30 JUNE 2008
Annual report in terms of Regulation 43 (1) (e) (ii) of the Banks Act 1990 (as
amended).
In terms of the requirements of the Banks Act, and the banking legislation under
Basel II, registered banks and bank controlling companies are obliged to report
certain qualitative and quantitative information on a regular basis to the
public. The following table sets out the Sasfin Bank`s and the Group`s
quantitative information relating to its Capital and Capital Adequacy levels as
at 30 June 2008. The qualitative information regarding the Group`s Capital
Management Plan and Strategy is fully disclosed in the Group`s 2008 Annual
Report and Audited Annual Financial Statements. This report is also available on
its website: www.sasfin.com.
Sasfin Holdings Sasfin Bank Limited
Limited & its subsidiaries
R`000 % R`000 %
change change
1. Tier 1 Primary 692,971 24.99 377,573 21.84
Capital
Share Capital & 27,539 141,475
Premium
Distributable 673,640 322,080
reserves
Non-redeemable 117,420 0
preference share
capital
Special regulatory 8,200 8,200
reserve
Prescribed deductions
iro securitisation
and non-
qualifying reserves -133,828 -94,182
2. Tier 2 Secondary 87,168 3.14 2,698 0.16
Capital
Non-redeemable 81,858 0
preference share
capital
General other 3,815 1,203
reserves
General allowance 1,495 1,495
for credit impairment
Total Available 780,139 28.13 380,271 22.00
Capital & Capital
Adequacy ratio
3. Total Required 270,320 9.75 168,530 9.75
Capital & Reserves
4. Total Risk 2,772,510 1,728,510
weighted assets &
exposures
5. In addition, the regulation requires details of any risk exposure or other
item that is subject to rapid or material change. In this respect, as reported
in our final Results Announcement published on 9 September 2008, the global
credit crunch, coupled with the increasing interest rate outlook, continues to
compound levels of credit stress to consumers and business alike. The effects of
the continued increases in the cost of basic commodities including fuel and
food, places severe inflationary pressure on the economy. These pressures on the
economy, together with the heightened market voliatility in global financial
markets, have caused institutions to adopt a cautious approach going forward on
certain classes of assets where earnings are likely to be at risk.
Johannesburg
17 November 2008
Lead Sponsor
KPMG SERVICES (PTY) LTD
Joint sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITE
Date: 17/11/2008 15:53:01 Produced by the JSE SENS Department.
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