Dec 2011 results

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Dec 2011 results

  1. 1. Full Year Financial Results201126 March 2012
  2. 2. Agenda● Highlights ● Economic overview ● Financial review● Operational overview ● Strategy and outlook
  3. 3. BancABC Full Year Financial Results 2011HighlightsDOUGLAS MUNATSI
  4. 4. BancABC Full Year Financial Results 2011Up by 22%3 pointsdownFinancial HighlightsNet asset value per share up from BWP2.88 to BWP3.99Profits dragged down by high impairment charge which increased from BWP15.8min 2010 to BWP79.5m in 2011 & impact of IFC convertible loan of BWP35mPAT2011BWP87.7mUp by 28%RoE201116.3%Cost toIncomeEPS201174%201156.6 thebe2010BWP68.6m201016.2%201077%201046.3 thebe4Flat
  5. 5. BancABC Full Year Financial Results 2011Financial HighlightsNet asset value per share up from BWP2.88 to BWP3.99AttributableProfits (BWPm)2011BWP83m201117.5%20113.992010BWP66.7m201010%20102.935Dividend PerShare (Thebe)NAV Per (BWP)Up by 24% Up by 39% Up by 36%
  6. 6. BancABC Full Year Financial Results 2011Financial Highlights2011BWP9,2billion2010BWP6,0billionUp 53%2011BWP6,1billion2010BWP3,1billionUp 97%2011BWP7,4billion2010BWP4,9billionUp 50%2011BWP613million2010BWP438millionUp 40%TotalAssetsLoans &AdvancesDeposits Equity6
  7. 7. BancABC Full Year Financial Results 2011Operational highlightsTotal retail branches increased from 31 in 2010 to 49 in2011;Total retail customer numbers increased by 122% from 46thousand in 2010 to 108 thousand in 2011;NPLs down from 8.3% in 2010 to 6.7% in 2011, howevercredit loss ratio up from 0.6% in 2010 to 1.7% in 2011;Drawdown of IFC convertible loan of US$13.5 million in20117
  8. 8. BancABC Full Year Financial Results 2011Economic reviewDOUG MUNATSI
  9. 9. BancABC Full Year Financial Results 2011Economic OverviewDerailment of global recovery appears to have beenaverted for nowEuro area is expected to enter into a mild recession in2012A stronger performance in emerging markets thoughgrowth revised downwardsEurope adopted a tight fiscal stance & measures toreduce financial stressUS economic activity turning better than initiallyexpected 9
  10. 10. BancABC Full Year Financial Results 2011Economic OverviewSub-Saharan Africa (SSA) continuing its post-crisisrecoveryCommodity based countries remain vulnerable to anyglobal downturnSSA region grew by 4.9% in 2011 expected to grow by5.5% in 201210
  11. 11. BancABC Full Year Financial Results 2011GDP Ranking as of 2012 – Top 15 Economies110 4,000 8,000 12,000 16,000MexicoKoreaAustraliaSpainCanadaIndiaRussiaItalyUKBrazilFranceGermanyJapanChinaUSUS$ bnNew Global Order China overtook Japanin 2010 China a leadingconsumer of commodities Brazil to overtake UKin 2012
  12. 12. BancABC Full Year Financial Results 2011GDP Ranking as of 2012 Top 15 AfricanEconomies0 50 100 150 200 250 300 350 400 450BotswanaZambiaTanzaniaCameroonKenyaGhanaTunisiaSudanLibyaAngolaMoroccoAlgeriaEgyptNigeriaSouth AfricaUS$ bnSouth Africa –biggest economy inAfrica accounts forover a ⅓ of SSA GDP12
  13. 13. BancABC Full Year Financial Results 2011GDP Growth (%) & Size (US$ bn)South Africa443Nigeria263Namibia13Angola109Kenya41Mozambique15Zimbabwe12Botswana18Tanzania25Zambia2102468101240 50 60 70 80 90 100 110 120 130 140 150GDPGrowth2012(%)2010-11 Global Competitive Rankings out of 139 Countries5.5% SSAGDP GrowthGDP Size (US$ bn) = Bubble Size13
  14. 14. BancABC Full Year Financial Results 20112011 Inflation DevelopmentInflation peaked in a number of countries during 2011Price pressures from volatile and high fuel & food prices8.510.512.78.73.55.002468101214161820%InflationAvg InflationBotswana Mozambique Tanzania Zambia Zimbabwe SA14
  15. 15. BancABC Full Year Financial Results 2011Policy Interest Rates024681012141618%Tanz (Overnight Rate)Bots (Bank Rate)Zambia (BankRate)Moz (Standing LendingFacility)Bots Bank rate remained flat at9.5%Moz policy rate was lowered by150bs in line with declining inflationIn TZ, firming up of overnight ratein H2 was due to tight liquidityconditionsIn ZM, bank rate averaged 8.8% in2011 compared to 6.5% in 2010Policy interest rates – key monetarypolicy tools to fight inflation15
  16. 16. BancABC Full Year Financial Results 2011Exchange Rate Movement vs. USDConcerns on the pace ofglobal recovery triggeredZAR weakness in H2 of 2011Having appreciated in2010, ZAR & BWPdepreciated vs. US$ by 24%& 17%, respectivelyMZN appreciated vs. USD by18%. MZN was being usedas a tool to fight inflation-20 -16 -12 -8 -4 0 4 8 12 16 20BWPZARMZNTZSZMK16.923.6-17.57.76.7-3.5-10.619.610.83.4%YoY: Dec-09 to Dec-10YoY: Dec-10 to Dec-11Depreciation (+)Appreciation (-)16
  17. 17. BancABC Full Year Financial Results 2011Exchange Rate Movement per Pula660670680690700710720730740750Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-12100200300400500600700800BWP/TZS(RHS)BWP/ZMK(LHS)0123456Dec-10Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-120123456BWP/MZNBWP/ZARDue to dominant weight of ZARin the Pula basket ofcurrencies, the BWP mirrors theZAR movementThe following currencies appreciated vs BWP: MZN (29.4%)ZMK (8.7%)TZS (7.9%)17
  18. 18. BancABC Full Year Financial Results 2011ABC Markets – Banking Sector Landscape (US$m)7,3805,7713,6036,3984,4783,5769,6426,7504,5845,4093,7862,1004,4283,1002,755Botswana Mozambique Tanzania Zambia ZimbabweLoansDepositsAssets18
  19. 19. BancABC Full Year Financial Results 2011Financial reviewBEKI MOYO
  20. 20. BancABC Full Year Financial Results 2011Income StatementPerformance driven byincrease in net interestincome and non-interestincomeImpairment high due toloan growth anddowngrade in Tanzania &ZimbabweOperating expenses higherin line with expansionBWP000 2011 2010Net interest income 412,362 38% 297,845Impairment of loans (79,537) -403% (15,826)NII after impairment of loans 332,825 18% 282,019Non-interest income 325,984 23% 264,288Total income 658,809 21% 546,307Operating expenses (545,948) -25% (435,093)Net income from operations 112,861 1% 111,214Share of loss of associates (5,177) 74% (20,134)Profit before tax 107,684 18% 91,080Tax (19,986) 11% (22,495)Profit for the year 87,698 28% 68,585Attributable to:-Ordinary shareholders 83,002 24% 66,710-Minority interests 4,696 150% 1,875Basic EPS (thebe) 56.6 22% 46.3Dividend per share (thebe) 17.5 75% 10.020
  21. 21. BancABC Full Year Financial Results 2011Income StatementPerformance driven byincrease in net interestincome and non-interestincomeImpairment high due toloan growth and downgradein Tanzania & ZimbabweOperating expenses higherin line with expansionUSD000 2011 %change 2010Net interest income 60,329 38% 43,783Impairment of loans (11,637) -399% (2,331)NII after impairment of loans 48,692 17% 41,542Non-interest income 47,692 23% 38,930Total income 96,394 20% 80,472Operating expenses (79,873) -25% (64,089)Net income from operations 16,511 1% 16,383Share of loss of associates (757) 74% (2,966)Profit before tax 15,754 17% 13,417Tax (2,924) 12% (3,314)Profit for the year 12,830 27% 10,103Attributable to:-Ordinary shareholders 12,143 24% 9,827-Minority interests 687 149% 276Basic EPS (US cents) 8.3 22% 6.8Dividends per share (US cents) 2.4 60% 1.521
  22. 22. BancABC Full Year Financial Results 2011Attributable Profit Trend1248658678342%23%14%16% 16%0%5%10%15%20%25%30%35%40%45%-204060801001201402007 2008 2009 2010 2011Attributable profits RoEHigher attributable profitsdriven by increase in coreearningsROE flat due to lowerearnings in TanzaniaUpward trend in past 3years supported bysustainable earningsBWP’millionDip in 2009 due todollarization & change inbusiness model22
  23. 23. BancABC Full Year Financial Results 2011Income Statement- Segmental AnalysisZimbabwecontinued toperform well in allsegmentsZambiaperformancebuoyed byMicrofinanceTanzania affected bydowngrade ofsecurity on NPLBotswana andMozambique postsolid results onback of improvedNIIAttributable profitsBWP000 2011 % Cont 2010 % Cont % changeBotswana 28,005 20% 20,040 21% 40%Mozambique 28,863 20% 22,919 24% 26%Tanzania (3,326) -2% 15,804 16% -121%Zambia 31,872 23% 11,203 12% 184%Zimbabwe 55,090 39% 26,739 27% 106%Banking Operations 140,504 100% 96,705 100% 45%Head office & consolidationadjustments (57,502) (29,995) -92%Total 83,002 66,710 24%23
  24. 24. BancABC Financial Results 31 December 2011Income Statement – Segmental AnalysisDoubled retail income during the yearTotal Income ( excl impairments)BWP000 2011 % change 2010BancABC Botswana 125,341 48% 84,806BancABC Mozambique 126,069 46% 86,383BancABC Tanzania 88,588 3% 85,918BancABC Zambia 102,737 17% 88,104BancABC Zimbabwe 264,814 86% 142,630Banking Operations 707,548 45% 487,842Head Office & Consolidation adjustments 30,799 -59% 74,292Total Income 738,347 31% 562,133Total income (exl. impairments) 2011 2010BWP000 Wholesale Retail Wholesale RetailBancABC Botswana 114,301 11,040 83,273 1,533BancABC Mozambique 114,796 11,273 82,690 3,693BancABC Tanzania 83,517 5,071 85,322 596BancABC Zambia 33,581 69,156 34,752 53,352BancABC Zimbabwe 186,794 63,480 121,467 21,163Banking Operations 532,989 160,020 407,504 80,337Head Office & Consolidationadjustments 45,337 - 74,292 -Total Income 578,326 160,020 481,796 80,33724
  25. 25. BancABC Full Year Financial Results 2011Income Statement- Segmental AnalysisStrong growth in NII in Zimbabwe and MozambiqueNet interest incomeBWP000 2011 % change 2010BancABC Botswana 79,882 55% 51,452BancABC Mozambique 60,703 109% 29,057BancABC Tanzania 50,673 5% 48,038BancABC Zambia 68,905 2% 67,331BancABC Zimbabwe 121,575 112% 57,437Total Banking Operations 381,738 51% 253,314Head office 30,624 -31% 44,531Total 412,362 38% 297,84525
  26. 26. BancABC Full Year Financial Results 2011Income Statement – Segmental AnalysisBotswana:18%Mozambique:14%Tanzania:12%Zambia:16%Zimbabwe:31%ABCH &Other:10%NII by entity - 2011-50,000100,000150,000200,000250,000300,000350,000400,000450,000500,0002010 2011BWP000Net interest income by entityBotswana Mozambique Tanzania Zambia Zimbabwe ABCH & otherGrowth in NII across allentities, Zimbabwecontribution high boostedby Retail
  27. 27. BancABC Financial Results 31 December 2011Income Statement – Net Interest IncomePositive trend in net interest income drivenby better liquidity and increased balancesheet sizeSlight reduction in net interestmargins due to reduction in interestrates on consumer lending in Zambia0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%-100,000200,000300,000400,000500,0002007 2008 2009 2010 2011BWP000Net interest marginNet int BWP000 NIM before impairmentsNIM after impairments27
  28. 28. BancABC Full Year Financial Results 2011Income Statement- Net InterestIncome (USD)0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%-10,00020,00030,00040,00050,00060,00070,0002007 2008 2009 2010 2011USD000Net interest marginNet int USD000 NIM before impairmentsNIM after impairments28
  29. 29. BancABC Full Year Financial Results 2011Income Statement- Non-interest income-50,000050,000100,000150,000200,000250,000300,000350,0002007 2008 2009 2010 2011BWP000Non-interest incomeFees and commissions Trading income Gains on investment activities MTM - investment property Other incomeBWP000 2011 % Change 2010BancABC Botswana 45,459 36% 33,355BancABC Mozambique 65,366 14% 57,326BancABC Tanzania 37,915 0% 37,880BancABC Zambia 33,831 63% 20,773BancABC Zimbabwe 128,696 51% 85,194Banking operations 311,267 33% 234,528Head office 14,717 -51% 29,760Total 325 984 23% 264,288The reduction isdue to theimpact of IFCconvertible loanBWP35 m29
  30. 30. BancABC Full Year Financial Results 2011Income Statement- Non-interest incomeThe IFC Convertible loan agreement was signed in 2008 anddrawdown happened in May 2011The loan is a hybrid instrument (debt-derivative) and thereforethe loan was marked to market through the income statement.The loss arose from the differential between the conversionprice and the current share price of ABCH together with impactof exchange differentials.The net after tax fair value loss of BWP29m was recognized inthe income statement in accordance with IAS 39.30
  31. 31. BancABC Full Year Financial Results 2011Operating Expense per EntityBWP000 2011 % change 2010BancABC Botswana 84,024 42% 59,370BancABC Mozambique 80,798 43% 56,597BancABC Tanzania 61,762 30% 47,670Zambia 80,674 0% 80,360Zimbabwe 148,510 39% 106,593Banking operations 455,768 30% 350,590Head office 90,180 7% 84,503Total 545,948 25% 435,093-20,00040,00060,00080,000100,000120,000140,000160,000Botswana Mozambique Tanzania Zambia Zimbabwe Head office2010 2011Increase in opex dueto expansion in Retail& SME BankingBWP’00031
  32. 32. BancABC Full Year Financial Results 2011Income Statement- Cost to Income47%59%82%77%74%2007 2008 2009 2010 2011Cost to Income RatioCost to income ratio peaked in 2009 due to change in businessmodel and dollarization in Zimbabwe.32
  33. 33. BancABC Full Year Financial Results 2011Income Statement- Opex per entityOperating ExpensesWholesale RetailBWP000 Dec-11 Dec-10 Dec-11 Dec-10BancABC Botswana 55,282 47,078 28,742 12,292BancABC Mozambique 53,409 39,155 27,389 17,442BancABC Tanzania 47,613 39,539 14,149 8,131BancABC Zambia 29,612 36,560 51,062 43,800BancABC Zimbabwe 102,398 90,052 46,112 16,541Banking Operations 288,314 252,384 167,454 98,206Head office 83,380 78,049 6,800 6,454Total 371,694 330,433 174,254 104,66012% 66%33
  34. 34. BancABC Full Year Financial Results 2011Balance Sheet OverviewBalance sheet grew by 53% from BWP6,0 billion toBWP9,2 billionDeposits grew by 50% from BWP4,9 billion to BWP7,4billionLoans and advances almost doubled from BWP3,1 billionto BWP6,1 billion supported by growth in ZimbabweTotal Equity grew by 40% from BWP438 million toBWP612 million34
  35. 35. BancABC Full Year Financial Results 2011Balance Sheet86%14%Total Assets-2011 (BWP‘ millionWholesale Retail94%6%Total Assets -2010(BWP‘ millionWholesale RetailBWP000 2011 % chg 2010Cash and cash equivalents 1,243,431 24% 999,338Financial assets 972,511 -27% 1,326,846Loans and advances 6,077,399 97% 3,078,110Property and equipment 647,263 65% 391,498Other assets 243,284 13% 215,647Total assets 9,183,888 53% 6,011,439Deposits 7,374,700 50% 4,907,045Borrowed funds 981,788 69% 579,420Other liabilities 214,833 147% 87,116Total liabilities 8,571,321 54% 5,573,581Equity -ordinary shareholders 596,811 41% 422,336Minority interest 15,756 2% 15,522Total equity 612,567 40% 437,858Total liabilities & equity 9,183,888 53% 6,011,43935
  36. 36. BancABC Full Year Financial Results 2011Balance Sheet- USDWholesale86%Retail14%Total Assets-2011 (%)Wholesale94%Retail6%Total Assets-2010 (%)USD000 2011 % change 2010Cash and cash equivalents 166,122 7% 154,997Financial assets 129,927 -37% 205,794Loans and advances 811,940 70% 477,415Property and equipment 86,475 42% 60,721Other assets 32,504 -3% 33,447Total assets 1,226,968 32% 932,374Deposits 985,260 29% 761,083Borrowed funds 131,167 46% 89,868Other liabilities 28,702 112% 13,512Total liabilities 1,145,129 32% 864,463Equity -ordinary shareholders 79,734 22% 65,504Minority interest 2,105 -13% 2,407Total equity 81,839 21% 67,911Total liabilities & equity 1,226,968 32% 932,37436
  37. 37. BancABC Full Year Financial Results 2011Balance Sheet- Loans and Deposits-1,0002,0003,0004,0005,0006,0007,0008,0002007 2008 2009 2010 2011LoansDeposits97%increase inloans50%increase indeposits3749% CAGR 39% CAGR
  38. 38. BancABC Full Year Financial Results 2011Deposits Per EntityBWP000 2011 % change 2010BancABC Botswana 2,563,126 30% 1,966,307BancABC Mozambique 1,216,349 45% 836,104BancABC Tanzania 1,060,686 33% 795,640BancABC Zambia 548,120 117% 252,962BancABC Zimbabwe 1,986,419 88% 1,056,032Total deposits 7,374,700 50% 4,907,045Botswana34%Mozambique17%Tanzania15%Zambia7%Zimbabwe28%Strong growth indeposits across allentities38
  39. 39. BancABC Financial Results 31 December 2011Balance Sheet – Segmental AnalysisRetail contribution has significantly increased in the last 12 monthsLoans & Advances Wholesale RetailBWP000 2011 2010 2011 2010BancABC Botswana 1,289,565 789,470 368,535 5,145BancABC Mozambique 690,670 404,302 71,227 19,972BancABC Tanzania 525,984 433,084 46,713 13,342BancABC Zambia 215,282 140,750 361,628 91,971BancABC Zimbabwe 1,654,772 824,489 378,387 70,680Banking Operations 4,376,273 2,592,095 1,226,490 201,110Head Office entities 474,636 284,905 - -Total Deposits 4,850,909 2,877,000 1,226,490 201,11039
  40. 40. BancABC Full Year Financial Results 2011Balance Sheet- Asset QualityBWP million 2011 2010 2009 2008 2007Gross loans 6,295 3,217 2,130 2,369 1,363Non-performing loans 418 268 204 144 154Impairments 218 138 134 119 116Portfolio impairment 45 17 13 43 31Specific impairments 173 121 122 76 85NPL as % of gross loans 6.7% 8.3% 9.6% 6.1% 11.3%Impairment charge 80 16 51 44 33Impairment charge % loans 1.7% 0.6% 2.4% 1.9% 2.4%Implied loss given default 41% 45% 60% 53% 55%40
  41. 41. BancABC Financial Results 31 December 2011Balance Sheet – Segmental AnalysisRetail contributed 8.3% of total deposits (Dec 2010: 3.4%)Deposits Wholesale RetailBWP000 Dec 2011 Dec 2010 Dec 2011 Dec 2010BancABC Botswana 2,418,092 1,948,540 145,034 17,767BancABC Mozambique 991,922 744,952 224,427 91,152BancABC Tanzania 1,037,774 788,936 22,912 6,704BancABC Zambia 522,046 240,775 26,074 12,187BancABC Zimbabwe 1,794,548 1,018,620 191,871 37,412Total Deposits 6,764,382 4,741,823 610,318 165,22241
  42. 42. BancABC Financial Results 31 December 2011Balance Sheet – Capital AdequacyTotal Capital (BWP m) Capital Adequacy RatioSubsidiary 2011 2010 Min 2011 2010BancABC Botswana 234 171 15% 16% 22%BancABC Mozambique 225 162 8% 15% 18%BancABC Tanzania 99 97 12% 12% 14%BancABC Zambia 126 86 10% 16% 30%BancABC Zimbabwe 284 191 10% 11% 14%There is now need to raise additional capital42
  43. 43. BancABC Full Year Financial Results 2011Operational OverviewFRANCIS DZANYA
  44. 44. BancABC Full Year Financial Results 2011Our Footprint – Banking SectorLandscape (US$m)7,3805,7713,6036,3984,4783,5769,6426,7504,5845,4093,7862,1004,4283,1002,755383328218196162102156140761086373371265277MozambiqueTanzania Zambia ZimbabweLoansDepositsAssetsBancABC ShareBotswana44
  45. 45. BancABC Full Year Financial Results 2011Botswana HighlightsRevenue• Net interest income : + 55%• Good margins• Increase in the book• Non-interest income : + 36%• High FX Trading volumesLoans & Deposits• Loans and Advances :more thandoubled to BWP1.6bn• Increase in consumer lending• Deposits increased: from BWP2bnto BWP2.6bn• market share up from 5% prioryear to 6%Operational Statistics• Staff numbers up from 117 to 186• Branches up from 2 to 4• Customer numbers up from 1,500in 2010 to 9,177 in 2011Developments & New Products• Consumer Banking Loans• 100% home loans;• Chip and PIN cards;• ATMs rolled out• VISA acquiring• Prepaid VISA Cards45
  46. 46. BancABC Full Year Financial Results 2011Botswana Branches46
  47. 47. BancABC Full Year Financial Results 2011Mozambique Highlights47Revenue• Net interest income: +109%• Higher margins• Book Size Increase• Non interest income: +12%• FX Trading Margins Shrinkage• Trade finance fees upLoans & Deposits• Good growth of Loan book: up toBWP761m from BWP424m• Deposits crossed the billion mark: upto BWP1.2bn from BWP836m• Market share increased from 4% to4.5%.• Highest retail deposit contributor toGroupOperational Statistics• Staff numbers up from 103 to 125• + 1 branch, total to 6;• Customer numbers up from 2,442 in2010 to 4,516 at the end of 2011Developments and New Products• Prepaid cards pilot with selectedcustomers;• Campaigns on deposit mobilization:“2014 World Cup” campaign• Launched the IFC SME program47
  48. 48. BancABC Full Year Financial Results 2011Mozambique Branches48
  49. 49. BancABC Full Year Financial Results 2011Tanzania HighlightsRevenue• Total bank revenue affected by highimpairment of loans: impairments upfrom BWP18m to BWP33m• Non interest income flat at BWP38m,• Mark-to-market losses in Q4-11Loans• Loan book up by 28% from BWP446mto BWP573m, increase recorded onconsumer lending.• Deposits increased from BWP795m toBWP1.0 billionOperational statistics• Staff numbers up from 80 in 2010 to103 in 2011.• One more branch was opened in 2011,bringing total to 4Product Developments• Rolled out ATM cards• Introduced fixed deposit balance build49
  50. 50. BancABC Full Year Financial Results 2011Tanzania Branches50
  51. 51. BancABC Full Year Financial Results 2011Zambia HighlightsRevenue• Total income up from BWP91m toBWP102m• High consumer loans volumes• Impairments well controlledduring the yearLoans & Deposits• Loan book up by 148% fromBWP233m to BWP577m,• Microfinance book increased by245% from BWP91m to BWP314m• Deposits up from BWP253m toBWP548m, mainly from wholesaleOperational statistics• Staff numbers up from 128 in 2010to 187 in 2011• Branch network grew to 23 tocover all provinces in Zambia• Number of customers shot up from48 thousand to 58 thousandDevelopments & New products• Successful Sales campaigns 100%MORE• Mobile banking in a box• Offline ATM salaries payment51
  52. 52. BancABC Full Year Financial Results 2011Zambia Branches52
  53. 53. BancABC Full Year Financial Results 2011Zimbabwe Highlights53Revenue• Total bank revenue up fromBWP140m to BWP219m,• Impairment was significantly higherdue to increase in loan bookLoans & deposits• Loan book up by 132% fromBWP895m to BWP2bn• Retail Loan book up 5 fold toBWP378 m• Deposits up by 158% to BWP2bn,exceeding market growth of 35%.Operational Statistics• Staff numbers increased from 193to 353• Branches increased from 6 to 16and No of ATMs rose from 13 to 21• Increase in retail customers from8,800 in 2010 to 34,700 in 2011Developments and new products• Group loan schemes• Mortgage loans and VAF• SMS banking launched• Internet /POS acquiring and VISAprepaid card at advanced stage53
  54. 54. BancABC Full Year Financial Results 2011Zimbabwe Branches54
  55. 55. BancABC Full Year Financial Results 2011Strategy and OutlookDOUGLAS MUNATSI
  56. 56. BancABC Full Year Financial Results 2011Short to medium term objectivesRights issue of US$50 million underway;The rights issue to be fully underwritten by ADC;To recapitalize all banking operations;Branches to increase to 71 by end of 2012;Balance sheet is sound and positions group well for growth in 2012and beyond56
  57. 57. BancABC Full Year Financial Results 2011Dividend declaration57As per Group Policy, a dividend of 10.5 thebe (1.4US cent) per share to be paid on 4 May 2012 toshareholders on register on 13 April 2012Total dividend for the year will be 17.5 thebe(2010: 10 thebe) which is approximately 2.4 UScents (2010: 1.5 US cent)
  58. 58. BancABC Full Year Financial Results 2011ABCH Comparative Prices - ZSE vs. BSE-1.00.01.02.03.04.05.06.07.0 Jan-11Feb-11Mar-11Apr-11May-11Jun-11Jul-11Aug-11Aug-11Sep-11Oct-11Nov-11Dec-11PulaABCH ZSEZSE Discount(-)/ Premium(+) vs. BSEABCH BSE58
  59. 59. BancABC Full Year Financial Results 2011THANK YOU59

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