DGAP-News: ADC African Development Corporation GmbH&Co. KGaA: ADC's subsidiary, BancABC reports outstanding 2012 results++Total income grew by 65% and pre-tax profits by 97%++ADC to benefit from impressive results through consolidation
(firmenpresse) - DGAP-News: ADC African Development Corporation GmbH&Co. KGaA / Key
word(s): Final Results
ADC African Development Corporation GmbH&Co. KGaA: ADC's subsidiary,
BancABC reports outstanding 2012 results++Total income grew by 65% and
pre-tax profits by 97%++ADC to benefit from impressive results through
consolidation
28.03.2013 / 11:13
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ADC African Development Corporation (ADC), ISIN DE000A1E8NW9, a pan-African
banking group, focusing on the frontier markets in sub-Saharan Africa, is
pleased to announce that its core banking operation, BancABC, has released
its 2012 financial results, reporting record growth in both revenues and
profits.
Driven by the expansion into the retail banking sector in all of the
Group's subsidiary countries (Botswana, Mozambique, Tanzania, Zambia and
Zimbabwe), total income grew by 65%, surpassing the BWP 1 billion mark for
the first time, totaling BWP 1,087 million (EUR 111 million) compared to
BWP 659 million (EUR 69 million) in 2011.
Pre-tax profits nearly doubled in 2012, to BWP 212 million (EUR 22 million)
from BWP 108 million (EUR 11 million) in the previous year, while profits
attributable to ordinary shareholders rose 60% to BWP 133 million (EUR 14
million) from BWP 83 million (EUR 9 million) in 2011. As a result of the
continued expansion into retail banking, average return on equity in 2012
remained relatively unchanged at 15% compared to 16% in 2011 but is set to
increase now that the bulk of the retail banking investments are complete.
Total deposits rose by 45% in 2012 to BWP 10.7 billion (EUR 1.0 billion)
from BWP 7.4 billion (EUR 0.8 billion) in 2011, while loans and advances
increased by 50% to BWP 9.1 billion (EUR 0.9 billion) at year-end 2012, up
from BWP 6.1 billion (EUR 0.6 billion) in 2011.
Net interest margins increased marginally from 6.5% to 6.7%. Margins are
expected to increase as the Group continues to make in-roads in the retail
banking space. As at 31 December 2012, the retail banking loan book
constituted 40% of the total loan book compared to 20% in 2011, whereas
retail deposits only constituted 9% (2011: 8%) of the total deposit book
and leaves further room for expansion.
A final dividend for 2012 of 8 Thebe per share was proposed and will be
paid on 3 May 2013 to shareholders on the register at the close of business
on 12 April 2013. This translates into a dividend payment to ADC of
approximately BWP 9.7 million (EUR 0.9 million).
ADC has consolidated BancABC onto its balance sheet, with an effective date
of 27 July 2012. ADC's profit and loss accounts and balance sheet will grow
significantly and transform ADC into an operational banking group. The
balance sheet of ADC will increase by BancABC's total assets, which grew
from BWP 9.2 billion (EUR 0.9 billion) at year-end 2011 by 46% to BWP 13.4
billion (EUR 1.3 billion) as of 31 December 2012.
The BancABC results publication is available for download via the following
link on the ADC website:
http://www.african-development.com/en/operations/banking-operations/bancab
c/
Dirk Harbecke, CEO of ADC commented: 'BancABC's profits for the last five
months of 2012 will be reflected in ADC's 2012 accounts as a result of its
first time consolidation into ADC from 27 July 2012. The volatility of
ADC's financial results will be reduced significantly now that we are no
longer dependent on BancABC's share price and can therefore offer our
shareholders the stability and impressive growth that are reflected in
BancABC's 2012 results. We are proud to have an outstanding Management team
at BancABC who has increased the bank's market share through prudent,
appropriate and effective investments, while ensuring an excellent
all-round performance.'
About BancABC
BancABC (www.bancabc.com) represents the brand name of ABC Holdings
Limited, a company registered in Botswana which has a primary listing on
the Botswana Stock Exchange (ABCH:BG) and a secondary listing on the
Zimbabwe Stock Exchange (ABC:ZH). BancABC operates in Botswana, Mozambique,
Tanzania, Zambia and Zimbabwe and has a group services office in
Johannesburg, South Africa. Historically, BancABC was a merchant bank
offering a diverse range of services. These included wealth management,
corporate banking, treasury services, leasing, asset management and stock
broking. The Group today has a sizeable retail presence in all of the
markets in which it operates. BancABC's vision is to become Africa's
preferred banking partner by offering world-class financial solutions.
About ADC
ADC African Development Corporation (ADC) (ISIN: DE000A1E8NW9; Bloomberg:
AZC.GR, www.african-development.com), is a German Prime Standard (Main
Board) listed, emerging pan-African banking group. ADC has a strong
footprint in Southern Africa via BancABC, a regional commercial banking
platform operating in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe
as well as in West Africa via Union Bank of Nigeria. Parallel to its
banking operations, ADC has a private equity portfolio active in key growth
markets across sub-Saharan Africa. ADC follows an active management
approach with a team of experts that comprise operational banking
management, investment banking and merchant banking expertise. ADC
optimizes its risk-return profile through a political risk insurance
solution offered by the MIGA (World Bank Group).
Contact:
Investor Relations
investor-relations(at)african-development.com
T +49 69 719 12 80 119
End of Corporate News
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28.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ADC African Development Corporation GmbH&Co. KGaA
Grüneburgweg 18
60322 Frankfurt/Main
Germany
Phone: +49 69 719 12 80 119
Fax: +49 69 719 12 80 999
E-mail: info(at)african-development.com
Internet: www.african-development.com
ISIN: DE000A1E8NW9
WKN: A1E8NW
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf
End of News DGAP News-Service
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205487 28.03.2013
Themen in dieser Pressemitteilung:
adc-african-development-corporation-gmbhco-kgaa-adc-s-subsidiary
bancabc-reports-outstanding-2012-results-total-income-grew-by-65-and-pre
tax-profits-by-97-adc-to-benefit-from-impressive-results-through-consolidation
Unternehmensinformation / Kurzprofil:
Datum: 28.03.2013 - 11:13 Uhr
Sprache: Deutsch
News-ID 243978
Anzahl Zeichen: 6085
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Kategorie:
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