July 29, 2016 6:04 PM ET

Banks

Company Overview of Residual Debt Services Limited

Company Overview

Residual Debt Services Limited provides various banking products and services in South Africa. The company offers investments products, such as fixed and notice deposits, access accumulator products, and tax-free investment products. It also provides personal, debt consolidation, and fixed prime interest loan products; credit life, funeral cover, crime injury, and personal accident insurance products; and credit cards. The company was formerly known as African Bank Limited and changed its name to Residual Debt Services Limited in April 2016. Residual Debt Services Limited was incorporated in 1975 and is headquartered in Midrand, South Africa.

59 16th Road

Midrand,  1686

South Africa

Founded in 1975

Phone:

27 11 256 9000

Key Executives for Residual Debt Services Limited

Head of Treasury
Company Secretary
Head of Treasury Finance and Admin
Compensation as of Fiscal Year 2016.

Residual Debt Services Limited Key Developments

Residual Debt Services Ltd Announces Unaudited Earnings Results for the Six Months Ended March 31, 2016

Residual Debt Services Ltd. announced unaudited earnings results for the six months ended March 31, 2016. The company reported a loss of ZAR 646 million compared to a loss of ZAR 2,787 million for the comparative six months ended 31 March 2015. The bank's loss was an improvement on the forecast loss of ZAR 2,091 million as published in the Offer Information Memorandum on 4 February 2016. The material reasons for the variation to forecast include: a lower actual impairment charge than was forecast due to favourable shorter term variances and a larger than forecast debt counselling book. This partially offsets the lower than forecast actual interest income reflecting the debt counselling book; an actual stronger ZAR than was forecast resulting in lower actual foreign exchanges losses; Lower actual than forecast restructuring costs which are not included up to 31 March 2016 as expected; earlier than expected receipts on previously written off inter group balances.

Residual Debt Services Limited to Report First Half, 2016 Results on Jun 30, 2016

Residual Debt Services Limited announced that they will report first half, 2016 results on Jun 30, 2016

Residual Debt Services Limited, H1 2016 Earnings Call, Jun 30, 2016

Residual Debt Services Limited, H1 2016 Earnings Call, Jun 30, 2016

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 9, 2015
The Standard General Insurance Company Limited
 

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