MILESTONES FOR THE 2021 HALF YEAR
- Group returns to profitability in the six months, with 196% increase to R152 million
- Robust balance sheet with a strong liquidity profile and high available cash resources of R8.0 billion to support growth strategy
- High equity capital levels of R10.8 billion, resulting in a total group capital adequacy ratio of 43.6%
- Retail deposit growth of 126% year-on-year, resulting in R8.6 billion deposit book
- Rated best Contact Centre and Branch Network in the 2020 independent South African Customer Satisfaction Index (SA-csi) released in 2021
- Gross advances R27.115 billion; 8% lower year-on-year
- Provisioning coverage increased to 38.1%
- New loans disbursed show 32% increase in H1 21 compared to last six months ended 30 Sept’20. Conservative credit granting continues, however credit criteria relaxed of late.
- Improved credit loss ratio of 6.1%, from 12.9% a year ago.
- Group profit after tax of R152 million (H1 20: R158 million loss)
- Resulting in positive 2.9% return on equity for the half year (H1 20: negative 3.0%)
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