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July 06, 2015 11:28 PM ET

Diversified Financial Services

Company Overview of WesBank Corporate

Company Overview

WesBank Corporate provides asset finance solutions for large, medium, and small companies. The company offers finance for various capital assets, including industrial plant and machinery, aircraft, trucks and commercial vehicles, company cars/car allowance schemes, earthmoving equipment, materials handling equipment, printing equipment, computer hardware, retail equipment, and office equipment. It also provides personnel loans for home improvements, holidays, child's education, computer purchase, or debt consolidation. In addition, the company offers fleet management services; import finance; insurance products; and vehicle and asset finance on dealer showrooms. WesBank Corporate was formerl...

Enterprise Road

Fairland,  2170

South Africa

Founded in 1968

Phone:

27 11 632 6000

Fax:

27 11 632 6200

Key Executives for WesBank Corporate

Chief Executive Officer
Chief Financial Officer
Head of HR and Operations
Chief Executive Officer of Collection Solutions (Pty) ltd
Head of International Operations
Compensation as of Fiscal Year 2015.

WesBank Corporate Key Developments

WesBank Corporate Reports Earnings Results for the Six Months Ended December 31, 2014

WesBank Corporate reported earnings results for the six months ended December 31, 2014. For the period, the company reported normalized earnings of ZAR 1,623 million against ZAR 1,497 million a year ago. Normalized profit before tax was ZAR 2,282 million against ZAR 2,149 million a year ago. ROE was 23.7% against 28.3% a year ago. ROA was 1.81% against 1.95% a year ago.

WesBank Reports Earnings Results for the Year Ended June 30, 2014

WesBank reported earnings results for the year ended June 30, 2014. For the period, the company reported normalized earnings of ZAR 2,830 million against ZAR 2,774 million a year ago. Normalized profit before tax was ZAR 4,060 million against ZAR 3,983 million a year ago. ROE was 26.6% against 31.5% a year ago. ROA was 1.89% against 2.20% a year ago.

Volkswagen Financial Services AG Forms Joint Venture with WesBank

Volkswagen Financial Services AG has formed a joint venture (JV) with WesBank to provide financial services to support the Volkswagen (VW) car and light commercial vehicle brand and the Audi car brand in South Africa. The new JV, known as Volkswagen Financial Services South Africa, will provide products and services, including traditional installment sale finance, leasing, dealer funding, automotive insurance and fleet management. Under the terms of the transaction, Volkswagen Financial Services will own 51% stake, while WesBank will hold the remaining 49% stake in the JV. The JV allows Volkswagen Financial Services to enter South African market.

Similar Private Companies By Industry

Company Name Region
Via Capital Financial Services (Pty) Ltd. Middle East/Africa
Ventury Group (Proprietary) Limited Middle East/Africa
Limosa Business Finance (Pty) Ltd. Middle East/Africa
Furnex Capital Ltd Middle East/Africa
Fintech (Proprietary) Limited Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 22, 2015
Motorite Administrators (Pty) Ltd and Smart Insurance UK
 

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