Commentary & highlights
 Financial statements
 Selected return ratios
 Key income statement
 Key balance sheet
 Capital adequacy
 Employees
 Historical review
 Ratings & comparison
 Market share analysis

 

 
Core financial statements
 
 for the period ended 30 June 2002 BoE   
Nedcor  acquisition  Nedcor 
statutory  BoE  entries and  NiB  incl BOE  
2002  results  funding  minority    2002 
 Category Rm  Rm  Rm  Rm  Rm 
 Balance sheet          
 Average assets* 192 882  65 880  2 786    258 763 
 Average interest-earning assets* 182 575  52 166  2 786    234 741 
 Average shareholders' funds* 15 358  6 116  –    21 474 
Income statement          
 Net interest income 2 857  752  (372)  3 237 
 Non-interest revenue 2 690  1 393      4 083 
 Gross operating income 5 547  2 145  (372) –  7 320 
 Specific and general provisions 560  362      922 
 Net operating income 4 987  1 783  (372) –  6 398 
 Expenses 2 962  1 320      4 282 
 Net profit before tax  2 025   463  (372)  –  2 116 
 Taxation 404  138  (111)   431 
 Net profit after tax  1 621  325  (261) –  1 685 
 Associate income  92  1  93 
 Minorities attributable to ordinary shareholders  153      (71) 82 
 Core earnings  1 560  326  (261) 71  1 696 
           
   %        % 
Selected ratios          
 ROE (return on equity)*  22,49        16,69 
 ROA (return on assets)*  1,79        1,39 
 Interest margin*  3,16        2,78 
 Bad debts to net interest income  19,59        28,46 
 Non-interest revenue to gross income  48,48        55,77 
 Expenses to gross income  53,41        58,51 
 Effective tax rate  19,94        20,35 
 Employees (excluding temporary staff)  18 927  6 718      25 645 
* Based on 365 day averages          
           
for the period ended 31 December 2002     BoE     
Nedcor  BoE  acquisition  Nedcor 
statutory  results  entries and  NiB  (inc BoE)
2002  (12 months) funding  minority  2002 
Category Rm  Rm  Rm  Rm  Rm 
Balance sheet          
Average assets* 207 709  62 368  5 651    259 895 
Average interest-earning assets* 194 755  48 368  5 651    234 596 
Average shareholders' funds* 13 094  5 899      19 753 
Income statement          
Net interest income 5 882  1 541  (735) 6 688 
Non-interest revenue 5 833  2 489      8 322 
Gross operating income 11 715  4 030  (735) –  15 010 
Specific and general provisions 1 719  428      2 147 
Net operating income 9 996  3 602  (735) –  12 863 
Expenses 6 138  2 517      8 655 
Net profit before tax 3 858  1 085  (735) –  4 208 
Taxation 570  257  (220)   607 
Net profit after tax 3 288  828  (515) –  3 601 
Associate income 147  15  162 
Minorities attributable to ordinary shareholders 333      (92) 241 
Core earnings 3 102  843  (515) 92  3 522 
         
  %        % 
Selected ratios          
ROE (return on equity)* 22,49        19,05 
ROA (return on assets)* 1,79        1,45 
Interest margin* 3,16        2,85 
Bad debts to net interest income 19,59        32,11 
Non-interest revenue to gross income 48,48        55,45 
Expenses to gross income 53,41        57,66 
Effective tax rate 19,94        14,41 
Employees (excluding temporary staff) 18 554   6 535      25 089 
* Based on 365 day averages          
           
This page was updated on 29 July, 2003
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