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SFN SFNP
SFN
SFN - Sasfin Holdings Limited - Quarterly Report On Basel II Capital Adequacy
Requirements 31 December 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
QUARTERLY REPORT ON BASEL II CAPITAL ADEQUACY REQUIREMENTS 31 DECEMBER 2008
Quarterly 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 Group`s quantitative information
relating to its Capital and Capital Adequacy levels as at 31 December 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 Sasfin Bank
Holdings Limited &
Limited its
subsidiaries
R`000 %age R`000 %age
1. Tier 1 Primary 728,299 29.34 448,210 33.18
Capital
Share Capital & 29,297 141,475
Premium
Distributable 706,590 367,549
reserves
Non-redeemable 207,024 60,000
preference share
capital
Special regulatory 8,200 8,200
reserve
Prescribed deductions
iro securitisation
and non-qualifying -222,812 -129,014
reserves
2. Tier 2 Secondary 59,074 2.38 2,698 0.20
Capital
Non-redeemable 52,254
preference share -
capital
General other 12,140
reserves 8,018
General allowance for 2,205
credit impairment 2,205
Prescribed deductions -7,525
iro non-qualifying -7,525
reserves
Total Available 787,373 31.72 450,908 33.38
Capital & Capital
Adequacy ratio
3. Total Required 242,006 9.75 150,000 9.75
Capital & Reserves
4. Total Risk weighted 2,482,113 1,350,679
assets & exposures
5. Current market conditions and the economic slowdown continue to influence
levels of capital in maintaining a healthy balance between risk appetite and
risk profile. Credit defaults are on the increase, particularly on the consumer
front, and the Sasfin Group, although not directly exposed to the consumer
market, is likely to be affected by the secondary impacts encountered in this
cycle.
Pressures on the domestic economy, heightened by the market volatility is bound
to impact earnings in all industry sectors. Sasfin remains well capitalised to
withstand these impacts in challenging market conditions.
Johannesburg
2 April 2009
Lead Sponsor
KPMG SERVICES (PTY) LTD
Joint sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 03/04/2009 11:59:01 Produced by the JSE SENS Department.
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