| Wed 9 Dec 2009, 11:26 | | SFN/SFNP - Sasfin - Quarterly Report On Basel II Capital Adequacy Requirements |
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SFN/SFNP - Sasfin - Quarterly Report On Basel II Capital Adequacy Requirements
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
SASFIN HOLDINGS LIMITED / SASFIN BANK LIMITED
QUARTERLY REPORT ON BASEL II CAPITAL ADEQUACY REQUIREMENTS
30 September 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 30 September 2009.
The qualitative information regarding the Group`s Capital Management Plan and
Strategy is fully disclosed in the Group`s 2009 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 Primary Capital 931,670 30.94 595,218 39.93
Share Capital & Premium 44,070 141,476
Distributable reserves 726,620 424,503
Non-redeemable preference 200,973 60,000
share capital
Prescribed deductions and -39,992 -30,761
non-qualifying reserves
2. Tier 2 Secondary Capital 131,548 4.37 73,193 4.91
Non-redeemable preference 58,355 -
share capital
Subordinated Debt 82,450 82,450
General other reserves 4,898 4,898
General allowance for 3,860 3,860
credit impairment
Prescribed deductions and -18,015 -18,015
non-qualifying reserves
Total Available Capital & 1,063,219 35.31 668,411 44.84
Capital Adequacy ratio
3. Total Required Capital & 293,582 9.75 150,000 9.75
Reserves
4. Total Risk weighted assets 3,011,097 1,490,541
& exposures
5. Depressed market conditions continue to influence economic activities and has
resulted in a slowdown in the economy and a contraction in the banking
environment generally.
The credit and investment arenas remains challenging with increased levels of
credit stress being experienced in most sectors of the economy.
During the quarter, Sasfin Bank Limited obtained a subordinated term loan of
R82.45 million from the IFC, which qualifies as Tier II capital.
The Group continues to focus on maintaining a strong capital position and
comfortable liquidity levels in these difficult market conditions.
Johannesburg
9 December 2009
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
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