{"id":237802,"date":"2022-09-21T19:47:28","date_gmt":"2022-09-21T17:47:28","guid":{"rendered":"https:\/\/mypr.co.za\/?p=121811"},"modified":"2022-09-21T19:47:28","modified_gmt":"2022-09-21T17:47:28","slug":"sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn\/","title":{"rendered":"Sasfin headline earnings per share up 23.6% as loans grow by R1.35bn"},"content":{"rendered":"<aside class=\"scaip scaip-1 \">\n<aside id=\"republication_tracker_tool-2\" class=\"republication_tracker_tool clearfix\">\n<h5 class=\"adtitle\">Republish for Free<\/h5>\n<div class=\"license\">\n<p><button name=\"Republish This Story\" id=\"cc-btn\" class=\"republication-tracker-tool-button\">Republish This Story<\/button><\/p>\n<p><a class=\"license\" rel=\"noreferrer license noopener\" target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/4.0\/\"><img decoding=\"async\" alt=\"Creative Commons License\" class=\"lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn.png\"><\/a><\/p>\n<p><img decoding=\"async\" alt=\"Creative Commons License\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn.png\"><\/div>\n<div class=\"message\">\n<p>Republish our articles for free, online or in print, under a Creative Commons license.<\/p>\n<\/div>\n<\/aside>\n<\/aside>\n<p><span><b><i>Increased borrowing by SA business&nbsp;clients&nbsp;fuels growth<\/i><\/b><\/span><\/p>\n<p>Sasfin posted improved headline earnings of R166.7 million for the year ended 30 June 2022, up from R141.1 million&nbsp;in 2021. The better earnings were primarily a function of improved credit performance and enabled a total cash dividend for the financial year of 154.85 cents per share, 18.2% higher than the prior year.<\/p>\n<p>Total income was flat due to divestment from non-core businesses. However, Group profit improved sharply to R183.9 million from R77.6 million, following an 18.6% increase in loans and advances to R8.6bn.<\/p>\n<p>\u201cThis growth was achieved with lower credit losses, and the strong book growth should provide a good foundation for net-interest income returns in the year ahead,\u201d said Michael Sassoon, CEO of Sasfin Holdings.<\/p>\n<p>\u201cWe have seen increased demand for growth credit. The South African entrepreneurs, who we finance, are investing in growing their operations which is hopefully a good sign for the country during these volatile economic times. As a result, Sasfin achieved record loan growth for a single financial year,\u201d he said.<\/p>\n<p>Total assets increased 7.7% to R13.11 billion, supported by growth in deposits from customers which grew 10.56% to R5.23 billion. \u201cOur improved performance is a result of identifying key markets where we can deliver value and then strengthening the distribution efforts in these areas. We continue to mature this capacity to achieve more appropriate scale,\u201d Sassoon continued.<\/p>\n<p>During the period, Sasfin identified the need for a restatement which negatively affected the opening retained earnings by 4.1% for financial periods before 2021. Notwithstanding this the Net Asset value per ordinary share improved 11.86% to R52.13.<\/p>\n<p>Asset Finance once again reported a noteworthy performance, achieving an operating profit of R254.8 million. \u201cWe foresee continued growth in this business as we increasingly finance new asset types such as software and climate-friendly solutions,\u201d he indicated.<\/p>\n<p>\u201cIn Sasfin Wealth we are committed to building a world class scalable asset management business,\u201d Sassoon said, reflecting on Assets Under Advice and Management (AUM) reaching R59.2 billion. Despite this, the award-winning pillar showed a reduced operating profit of R58 million, mainly as result of a once-off operational loss of R45 million.<\/p>\n<p>The merged Business &amp; Commercial Banking pillar continues to gain momentum, with its operating loss improving 24,6% to R36.9 million, driven by a 26.2% increase in Loans and Advances and total income growth reaching R303.4 million. \u201cAs we transform the digital business banking experience, we continue to strengthen our client value proposition,\u201d Sassoon said. \u201cWe are also growing our lending capabilities and have put the necessary funding \u2013 including NASIRA backed loans offered to women, youth and COVID-19-impacted businesses \u2013 and support in place to focus on SME lending with a personal touch.\u201d<\/p>\n<p>Internally, Sasfin has continued to build capacity by investing in human capital, as well as operational and technological capabilities to ensure each pillar is well geared to embrace the changing technology landscape. \u201cSasfin has been focused on enhancing our financial and operational environment over the last few years which is resulting in a more streamlined business with stronger systems\u201d&nbsp;Harriet Heymans, Group FD explains.<\/p>\n<p>\u201cThe Group achieved healthy growth in headline earnings despite some challenges,\u201d Heymans said. \u201cIn 2023, we will further scale our business by focusing on delivering outstanding value to our clients while driving operational excellence,\u201d she concluded.<\/p>\n<p><i>For more information and interviews, please contact: <a href=\"mailto:newsdesk@mediaweb.co.za\" target=\"_blank\" rel=\"noopener\">newsdesk@mediaweb.co.za<\/a><\/i><\/p>\n<figure id=\"attachment_121812\" aria-describedby=\"caption-attachment-121812\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/mypr.co.za\/?attachment_id=121812\"><img loading=\"lazy\" decoding=\"async\" alt width=\"1250\" height=\"829\" class=\"wp-image-121812 size-large lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-121812 size-large\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn.jpg\" alt width=\"1250\" height=\"829\"><\/a><figcaption id=\"caption-attachment-121812\" class=\"wp-caption-text\">Harriet Heymans.<\/figcaption><\/figure>\n<figure id=\"attachment_121813\" aria-describedby=\"caption-attachment-121813\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/mypr.co.za\/?attachment_id=121813\"><img loading=\"lazy\" decoding=\"async\" alt width=\"1250\" height=\"771\" class=\"wp-image-121813 size-large lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-121813 size-large\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn-1.jpg\" alt width=\"1250\" height=\"771\"><\/a><figcaption id=\"caption-attachment-121813\" class=\"wp-caption-text\">Michael Sassoon<\/figcaption><\/figure>\n<p><strong>Video:<\/strong> Sasfin headline earnings per share up 23.6% as loans grow by R1.35bn<\/p>\n<p><strong>More Info on Sasfin headline earnings per share up 23.6% as loans grow by R1.35bn here:<\/strong> <a href=\"https:\/\/www.sasfin.com\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.sasfin.com\/<\/a><br \/><strong>Twitter<\/strong>: <a href=\"https:\/\/twitter.com\/MediawebSA\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/twitter.com\/MediawebSA<\/a><br \/><strong>Facebook<\/strong>: <a href=\"https:\/\/www.facebook.com\/MySociaLifeSA\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/www.facebook.com\/MySociaLifeSA\/<\/a><\/p>\n<p><a href=\"http:\/\/mypr.co.za\/save-with-myprs-monthly-flat-fee\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<p> <span class=\"post-views-icon dashicons dashicons-chart-bar\"><\/span> <span class=\"post-views-label\">Press Release Views since 1 July 2022:<\/span> <span class=\"post-views-count\">65<\/span> <\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republish for Free Republish This Story Republish our articles for free, online or in print, under a Creative Commons license. Increased borrowing by SA business&nbsp;clients&nbsp;fuels growth Sasfin posted improved headline earnings of R166.7 million for the year ended 30 June 2022, up from R141.1 million&nbsp;in 2021. The better earnings were primarily a function of improved [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":237803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3331,18,3332,9021,3330,3336,1],"tags":[3257],"class_list":{"0":"post-237802","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cape-town","8":"category-durban","9":"category-johannesburg-south-africa","10":"category-mypr","11":"category-port-elizabeth","12":"category-pretoria-south-africa","13":"category-south-africa","14":"tag-mypr","15":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/09\/sasfin-headline-earnings-per-share-up-23-6-as-loans-grow-by-r1-35bn.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/237802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=237802"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/237802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/237803"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=237802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=237802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=237802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}