Salient Features

Key salient features of Barclays Africa Group


30 June
  31 December
  2016 2015 Change % 2015
Statement of comprehensive income (Rm)
Income 36 508 34 423 13 67 198
Operating expenses 19 487 18 129 7 37 661
Profit attributable to ordinary equity holders 7 019 6 770 4 14 331
Headline earnings 7 252 6 755 7 14 287
Statement of financial position1
Loans and advances to customers (Rm) 715 209 657 412 9 703 359
Total assets (Rm) 1 142 469 1 038 945 10 1 144 604
Deposits due to customers (Rm) 676 968 649 226 4 688 419
Loans-to-deposits ratio (%) 87.1 85.5   86.1
Financial performance (%)
Return on equity 16.1 16.4   17.0
Return on assets 1.29 1.33   1.37
Return on risk-weighted assets 2.08 2.16   2.18
Non-performing loans (“NPL”) ratio on gross loans and advances¹ 3.84 3.97   3.88
Operating performance (%)
Net interest margin on average interest-bearing assets 4.97 4.70   4.81
Credit loss ratio on gross loans and advances to customers and banks 1.29 0.97   0.92
Credit loss ratio on gross loans and advances to customers 1.48 1.11   1.05
Non-interest income as percentage of revenue 42.2 43.1   42.8
Cost-to-income ratio 53.4 55.9   56.0
JAWS 5.11 0.86   1.39
Effective tax rate 28.3 28.6   27.7
Share statistics (million)
Number of ordinary shares in issue 847.8 847.8   847.8
Number of ordinary shares in issue (excluding treasury shares) 846.9 846.9   845.7
Weighted average number of ordinary shares in issue 846.5 846.9   846.8
Diluted weighted average number of ordinary shares in issue 846.5 847.6   847.3
Share statistics (cents)
Headline earnings per ordinary share 856.7 797.6 7 1 687.2
Diluted headline earnings per ordinary share 856.7 797.0 7 1 686.2
Basic earnings per ordinary share 829.2 799.4 4 1 692.4
Diluted earnings per ordinary share 829.2 798.7 4 1 691.4
Dividend per ordinary share relating to income for the reporting period 460 450 2 1 000
Dividend cover (times) 1.9 1.8   1.7
NAV per ordinary share 10 788 9 860 9 10 558
Tangible NAV per ordinary share 10 359 9 495 9 10 112
Capital adequacy (%)
Barclays Africa Group Limited 14.6 14.1   14.5
Absa Bank Limited 14.0 13.0   13.6
Common Equity Tier 1 (%)        
Barclays Africa Group Limited 12.1 11.7   11.9
Absa Bank Limited 10.8 10.0   10.3
1The calculation of the NPLs ratio has been changed to also include loans and advances to banks. Based on the previous methodology the NPLs ratio would be 4.28% (30 June 2015: 3.97%; 31 December 2015: 3.88%)
  30 June   31 December
  2017 2016 Change % 2016
Statement of comprehensive income (Rm)
Income 36 040 36 508 (1) 72 394
Operating expenses 20 038 19 487 3 39 956
Profit attributable to ordinary equity holders 7 781 7 019 11 14 708
Headline earnings 7 770 7 252 7 14 980
Statement of financial position
Total assets (Rm) 1 126 057 1 142 469 (1) 1 101 023
Financial performance (%)
Return on equity 16.8 16.1  

16.6

Return on average assets 1.40 1.29  

1.34

Return on risk-weighted assets 2.22 2.08  

2.14

Operating performance (%)
Net interest margin on average interest-bearing assets 4.93 5.01   4.95
Non-interest income as percentage of total income 42.3 42.2  

42.0

Cost-to-income ratio 55.6 53.4   55.2
JAWS (4.11) 5.11   1.64
Effective tax rate 27.7 28.3   26.9
Share statistics (million)
Number of ordinary shares in issue 847.8 847.8   847.8
Number of ordinary shares in issue (excluding treasury shares) 847.1 846.9   846.7
Weighted average number of ordinary shares in issue 846.5 846.5   846.5
Diluted weighted average number of ordinary shares in issue 846.7 846.5   846.6
Share statistics (cents)
Headline earnings per ordinary share 917.9 856.7 7 1 769.6
Diluted headline earnings per ordinary share 917.7 856.7 7 1 769.4
Basic earnings per ordinary share 919.2 829.2 11 1 737.5
Diluted basic earnings per ordinary share 919.0 829.2 11 1 737.3
Dividend cover (times) 1.9 1.9 - 1.7
NAV per ordinary share 11 261 10 788 4 10 980
Tangible NAV per ordinary share 10 823 10 788 4 10 501
Capital adequacy (%)
Barclays Africa Group Limited 14.5 14.6   14.8
Absa Bank Limited 15.2 14.0   15.1
Common Equity Tier 1 (%)
Barclays Africa Group Limited 12.1 12.1   12.1
Absa Bank Limited 11.9 10.8  

11.6