Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


May 04, 2015 12:27 AM ET

Banks

Company Overview of African Bank Limited

Company Overview

African Bank Limited provides various financial services in South Africa. The company offers savings and investments products, such as fixed deposits, notice deposits, regular investment products, and fixed income products. It also offers unsecured long-term and short-term personal loans for housing, education, and debt consolidation purposes, as well as credit cards, funeral plans, vehicle finance, and credit life insurance products. African Bank Limited was incorporated in 1975 and is headquartered in Midrand, South Africa. African Bank Limited is a subsidiary of African Bank Investments Limited.

59, 16th Road

Midrand,  1685

South Africa

Founded in 1975

Phone:

27 11 256 9000

Fax:

27 11 256 9306

Key Executives for African Bank Limited

Managing Director, Group Chief Financial Officer, Executive Director, Group Financial Director of African Bank Investments and Executive Director of African Bank Investments Ltd
Age: 54
Head of Treasury
Company Secretary
Company Secretary
Head of Treasury Finance and Admin
Compensation as of Fiscal Year 2014.

African Bank Limited Key Developments

African Bank To Acquire Standard General Insurance From African Bank Investments

African Bank Limited is planning to acquire The Standard General Insurance Company Limited from African Bank Investments Limited (JSE:ABL), curator Tom Winterboer says. It is envisaged at the moment that Standard General Insurance will be bought by African Bank Limited.

African Bank Limited Announces Executive Changes

The Board of African Bank Investments Limited announced that Leon Kirkinis, the Group Chief Executive Officer, managing director of African Bank and one of the founders of ABIL has resigned with immediate effect after 23 years in the business. The Board has appointed Nithia Nalliah (the Group Chief Financial Officer) to the position of managing director of African Bank with immediate effect. Nithia joined ABIL in 2006 as the chief financial officer and the Board is confident that he has the experience and ability to steer ABIL through these trying times pending the appointment of a permanent Chief Executive Officer and Managing Director. Nithia will continue to occupy the position of the Group Chief Financial Officer pending further appointments.

African Bank Limited Declares an Interim Gross Cash Preference Share with Payment Date on 17 June 2014; Reports Unaudited Consolidated Earnings Results for the Six Months Ended March 31, 2014

African Bank Limited has declared an interim gross cash preference share dividend of 349 cents per share (296.65 cents net of dividend withholding tax) compared to 322 cents paid in the same period a year ago. A dividend withholding tax of 15% will be applicable to all shareholders who are not exempt from the tax. Last date to trade cum-dividend is 6 June 2014 and shares commence trading ex-dividend is on 9 June 2014. Record date is 13 June 2014 and dividend payment date is on 17 June 2014. The company reported unaudited consolidated earnings results for the six months ended March 31, 2014. For the period, sale of merchandise was BRL 1,968 million against BRL 2,324 million a year ago. Income from operations was BRL 10,937 million against BRL 9,379 million a year ago. Loss from operations was BRL 2,635 million. Loss before taxation was BRL 2,635 million. Loss for the period was BRL 1,899 million. Basic loss attributable to ordinary shareholders was BRL 4,381 million against basic earnings attributable to ordinary shareholders of BRL 602 million a year ago. Basic loss per share was 337.6 cents against basic earnings per share of 62.1 cents a year ago. Headline loss was BRL 3,123 million against headline earnings of BRL 604 million a year ago. Headline loss per share was 240.7 cents. Cash outflow from operating activities was BRL 625 million against BRL 3,800 million a year ago. Acquisition of property and equipment was BRL 101 million against BRL 170 million a year ago. Acquisition of intangible assets was BRL 25 million against BRL 15 million a year ago. Net asset value per share attributable to ordinary shareholders was decreased by 62% to 635 cents. Return on equity of negative 54.6% against positive of 9.1% a year ago.

Similar Private Companies By Industry

Company Name Region
Investec Private Bank SA Middle East/Africa
Imperial Financial Holdings Limited Middle East/Africa
Meeg Bank Ltd. Middle East/Africa
Banco Da Africa Ocidental Middle East/Africa
The Hong Kong and Shanghai Banking Corporation Limited (South Africa) Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact African Bank Limited, please visit www.africanbank.co.za. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.