Sasfin Reports Jump in Headline Earnings as Credit Quality Improves

Sasfin posted a 32.05% growth in headline earnings to R161.305 million (June 2018: R122.152 million) with an increase in headline earnings per share of 31.42% to 501.00 cents (June 2018: 381.21 cents) for the year ended 30 June 2019.

According to Group Financial Director, Angela Pillay, the growth in the earnings is primarily due to an improved credit loss ratio to 102bps (June 2018: 197bps). Total income grew by 2.21% to R1.246 billion with an improvement in the quality of earnings. Income in the Banking Pillar grew by 8.87% and income (including from associates) in Sasfin Wealth grew by 11.23%. According to Group CEO, Michael Sassoon, “following the management changes in 2018, significant attention was given to defining, and delivering value to our key client segments. Sasfin is well positioned to grow within these segments through focus on distribution.”

Sasfin’s strong human capital, brand, diversified offering and solid balance sheet differentiate us from smaller peers and new entrants while our agile approach and personal touch differentiate us from larger peers.

You may also like

Popular News