PERFORMANCE HIGHLIGHTS

% change   2009-2010    2010 2009 2008
ECONOMIC          
Headline earnings Rm 14,6    4 900 4 277 5 765
Income attributable to shareholders Rm (0,3)    4 811 4 826 6 410
Diluted earnings per share:          
– Headline cents 8,7    1 069 983 1 401
– Basic cents (5,3)    1 050 1 109 1 558
Dividend declared per share cents 9,1    480 440 620
Dividend cover times   2,30 2,30 2,29
Net asset value Rm 6,3    47 814 44 984 40 073
Tangible net asset value per share cents 10,3    8 160 7 398 7 179
Net interest income to average interest-earning banking assets %   3,35 3,39 3,66
Credit loss ratio – banking advances* %   1,36 1,52 1,17
Non-interest revenue (NIR) to total income %   44,3 42,2 39,9
NIR to total operating expenses %   79,6 78,8 78,1
Efficiency ratio %   55,7 53,5 51,1
Group capital adequacy ratios: Basel II (including unappropriated profits)          
– Core Tier 1 %   10,1 9,9 8,2
– Tier 1 %   11,7 11,5 9,6
– Total %   15,0 14,9 12,4
Average interest-earning banking assets Rm 3,0    495 930 481 378 441 713
Total assets under administration** Rm 7,1    711 288 657 907 644 250
  Total assets Rm 6,7    608 718 570 703 567 023
  Assets under management** Rm 9,6    102 570 87 204 77 227
Return on total assets (ROA )* %   0,82 0,76 1,09
Return on shareholders’ equity (ROE ) (excluding goodwill)* %   13,4 13,4 20,1
ROE* %   11,8 11,8 17,7
Economic (loss)/profit* Rm   (289) 57 1 790
Life assurance embedded value Rm 29,7    1 031 795 566
Life assurance value of new business Rm 57,8    295 187 121
           
HEADLINE EARNINGS RECONCILIATION   2010 2009 2008
ECONOMIC          
Income attributable to shareholders Rm   4 811 4 826 6 410
Non-headline earnings items: Rm   (89) 549 645
– Non-trading and capital items Rm   (91) 624 756
– Taxation on non-trading and capital items Rm   2 (75) (111)
         
Headline earnings Rm   4 900 4 277 5 765
           
ENVIROMENTAL          
Residual carbon emissions following reduction initiatives but including
expanding scope and boundary of carbon footprint calculations		 tCO2e*** 0,16 213 428 213 081 135 469
Offset through carbon emission reduction projects allowing buffer tCO2e***   220 000 220 000 –
Carbon status tCO2e***   Neutral Neutral 135 469
           
SOCIAL          
Socioeconomic development spend Rm 9,6 80 73 67
           
CULTURAL          
Headline earnings per employee R’000 12,7 178 158 209

 

* 2010 and 2009 are calculated using a daily-average denominator. 2008 is calculated using a simple-average denominator.
** Restated 2009 and 2008.
*** tCO2e = tonnes of CO2 equivalent.