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SFN
SFN
SFN - Sasfin Holdings Limited - Sasfin Holdings Limited / Sasfin Bank Limited
quarterly report on basel II capital adequacy requirements
31 March 2009.
Sasfin Holdings Limited
Ordinary share code: SFN
ISIN: ZAE000006565
("Sasfin" or the "company")
SASFIN HOLDINGS LIMITED / SASFIN BANK LIMITED
QUARTERLY REPORT ON BASEL II CAPITAL ADEQUACY REQUIREMENTS
31 MARCH 2009.
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 March 2009.
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 for download from
www.sasfin.com.
Sasfin Holdings Sasfin Bank Limited
Limited & its subsidiaries
R`000 %age R`000 %age
1. Tier 1 816,635 31.13 488,133 35.87
Primary
Capital
Share Capital & 29,297 141,475
Premium
Distributable 710,469 384,435
reserves
Non-redeemable 225,190 60,000
preference share
capital
Special regulatory 8,200 8,200
reserve
Prescribed -156,521 -105,977
deductions iro
securitisation
and non- qualifying
reserves
2. Tier 2 Secondary 43,402 1.65 4,686 0.34
Capital
Non-redeemable 34,088 -
preference share
capital
General other 10,429
reserves 5,801
General allowance 4,193 4,193
for credit
impairment
Prescribed -5,308 -5,308
deductions iro non-
qualifying reserves
Total Available 860,037 32.79 492,818 36.22
Capital & Capital
Adequacy ratio
3. Total Required 255,743 9.75 150,000 9.75
Capital & Reserves
4. Total Risk weighted 2,622,999 1,360,722
assets & exposures
5. Current market conditions and the slowing economy continues to influence
levels of capital in maintaining a healthy balance between risk appetite and
risk profile. The credit environment remains challenging with credit demands
being soft, whilst credit defaults are on the increase.
As expected, the group is experiencing an increase in credit impairments in line
with the general trends in the banking industry. The difficult domestic economy,
heightened by the market volatility is bound to impact earnings in all sectors.
Sasfin remains well capitalised with a stable balance sheet, and continues to
focus on maintaining prudent capital and
liquidity levels.
Johannesburg
17 June 2009
Sponsor
Sasfin Capital (A division of Sasfin Bank Limited)
Date: 17/06/2009 16:54:01 Produced by the JSE SENS Department.
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