Absa Group Limited (JSE:ABG) News - Click below to view full PDF article
https://senspdf.jse.co.za/documents/2022/jse/isse/abge/HY22Result.pdf
Unaudited summary consolidated results
for the reporting period ended 30 June 2022

Absa Group Limited
Registration number: 1986/003934/06 
Incorporated in the Republic of South Africa
JSE share code: ABG
ISIN: ZAE000255915
Bond Issuer Code: ABGI
("Absa Group", "Group" or "Company")

Unaudited summary consolidated results
for the reporting period ended 30 June 2022 and ordinary share dividend declaration

We are a Pan-African group, inspired by the people we serve and determined to be a globally respected organisation 
of which Africa can be proud. As a financial services provider, we play an integral role in the economic life 
of individuals, businesses, and nations. To this end, we offer a universal set of products and services across retail, 
business, corporate, investment and wealth banking, as well as investment management and insurance solutions.

- 15 countries
- 1 009 outlets*
- 7 360 ATMs
- 35 074 employees
- 2.8m digitally active customers
- 126 734 point-of-sale devices
  * Includes branches and sales centres.

We bring possibilities to life

Possibilities come to life when we meet every challenge with tenacity, ingenuity, positivity and creativity. 
We coined a new word for our purpose, which is the driving force behind everything we do, a way of doing things 
that is unique to our continent.

We call it Africanacity

- Absa Bank Group certified as 2022 Top Employer in Africa by the Top Employer Institute.
- Absa Life emerged as the leading life insurance provider in South Africa in the Consulta South African Customer
  Satisfaction Index.
- Absa aims for R100 billion in sustainable finance by 2025.
- Absa received the award for Best Digital Bank South Africa at the Global Banking and Finance Awards 2022.
- Top Honours for CIB at the EMEA Finance Achievement Awards 2021 Best Equity House in Africa and Best Syndicated 
  Loan House in Southern Africa.
- Overall top spot in an inaugural survey on how investment professionals rate local companies in investor relations.
- Launch of the Absa Small Business Friday campaign as a commitment to supporting Small and Medium Enterprises 
  by building strong relationships with them and creating innovative solutions that meet their unique needs.

Normalised financial results as a consequence of Barclays PLC Separation

A normalised view of the 2022 interim results is provided, which adjusts for the consequences of the separation from
Barclays PLC. This view better reflects the Group's underlying performance. International Financial Reporting Standards
(IFRS) compliant financial results will continue to be presented as required by the Companies Act and the JSE Limited
(JSE) Listings Requirements and include a reconciliation between the normalised and IFRS views. Normalised results 
will be presented for future periods to the extent that the financial impact of the Separation is considered material.

Performance overview for the period ended 30 June 2022

                                      Total income
2022            Increased 14%     2021           2022             Increased 14%     2021
R46 958m        IFRS              R41 230m       R46 945m         Normalised        R41 210m

                           Headline earnings per ordinary share   
2022            Increased 29.8%   2021           2022             Increased 27%     2021
1 280.2 cents   IFRS              986.2 cents    1 298.5 cents    Normalised        1 019.7 cents

                               Basic earnings per share           
2022            Increased 28.4%   2021           2022             Increased 26%     2021
1 262.5 cents   IFRS              983.3 cents    1 281.0 cents    Normalised        1 017.3 cents

                           Net asset value per ordinary share     
2022            Increased 9%      2021           2022             Increased 8%      2021
15 668 cents    IFRS              14 350 cents   14 937 cents     Normalised        13 859 cents

                                   Return on equity               
2022            Increased         2021           2022             Increased         2021
16.6%           IFRS              13.9%          17.7%            Normalised        15.3%

                                 Cost-to-income ratio             
2022            Decreased         2021           2022             Decreased         2021
52.4%           IFRS              56.4%          51.4%            Normalised        54.9%

                                  Net interest margin                                                                      
2022            Increased         2021           2022             Increased         2021
4.54%           IFRS              4.41%          4.54%            Normalised        4.41%

                                 Dividend per ordinary share
2022                                Increased more than 100%                        2021
650 cents                           IFRS                                            310 cents

Loans and deposits growth
- Gross loans and advances (Increased 11%) R1 203.3bn (2021: R1 079.8bn)
- Deposits (Increased 10%) R1 213.5bn (2021: R1 105.2bn)

Risk profile
- Stage 3 loans ratio to gross loans and advances 5.29% (2021: 5.64%)

Liquidity coverage ratio
- 121.1% (2021: 124.0%)

Sound capital
- Common Equity Tier 1 ratio 13.1% (2021: 12.4%)

Short form statement

This short-form announcement is the responsibility of the directors of Absa Group. It is only a summary of the
information in the full announcement.

Any investment decisions by stakeholders should be based on consideration of the full available on the Company's 
website at https://www.absa.africa/absaafrica/investor-relations/financial-results/ and on the following JSE link:
https://senspdf.jse.co.za/documents/2022/jse/isse/ABGE/HY22Result.pdf

The full interim report is available on the Company's website, copies of the full announcement may also be requested 
at the Company's registered office, at no charge, during office hours on normal business days, subject to COVID-19 
office protocols. The full interim report is also available at the sponsor's office.

Registered office
7th Floor, Absa Towers West, 15 Troye Street, Johannesburg, 2001

Board of directors
Group independent non-executive directors
M S Moloko (Independent Chairman), N S Mjoli-Mncube (Lead Independent Director), T Abdool-Samad, J J Cummins, 
A B Darko(1) (2), R A Keanly, S J Munyantwali(2) (3), D Naidoo, F Okomo-Okello(4), I L Rensburg, R van Wyk

Group non-executive directors
F Tonelli

Group executive directors
A Rautenbach (Group Chief Executive), J P Quinn (Group Financial Director)

(1) Ghanaian (2) British (3) Ugandan (4) Kenyan

Declaration of interim ordinary dividend number 70

Shareholders are advised that an ordinary dividend of 650 cents per ordinary share was declared on 15 August 2022, 
for the interim reporting period ended 30 June 2022. The ordinary dividend is payable to shareholders recorded in the
register of members of the Company at the close of business on Friday, 16 September 2022. The directors of Absa Group
confirm that the Group will satisfy the solvency and liquidity test immediately after completion of the dividend
distribution.

The dividend will be subject to local dividends withholding tax at a rate of 20%. In accordance with paragraphs 11.17
(a) (i) to (ix) and 11.17 (c) of the JSE Limited Listings Requirements, the following additional information is
disclosed:

- The dividend has been declared out of income reserves.
- The local dividend tax rate is twenty per cent (20%).
- The gross local dividend amount 650 cents per ordinary share for shareholders exempt from the dividend tax.
- The net local dividend amount is 520 cents per ordinary share for shareholders liable to pay the dividend tax.
- Absa Group Limited currently has 847 750 679 ordinary shares in issue (includes 17 183 416 treasury shares).
- Absa Group Limited's income tax reference number is 9150116714.

In compliance with the requirements of Strate, the electronic settlement and custody system used by the JSE Limited,
the following salient dates for the payment of the dividend are applicable:

Last day to trade cum dividend             Tuesday, 13 September 2022
Shares commence trading ex-dividend        Wednesday, 14 September 2022
Record date                                Friday, 16 September 2022
Payment date                               Monday, 19 September 2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 14 September 2022 
and Friday, 16 September 2022, both dates inclusive. On Monday, 19 September 2022, the dividend will be 
electronically transferred to the bank accounts of certificated shareholders. The accounts of those shareholders 
who have dematerialised their shares (which are held at their participant or broker) will also be credited 
on Monday, 19 September 2022.

On behalf of the Board

N R Drutman                     Johannesburg
Company Secretary               15 August 2022

Absa Group Limited is a company domiciled in South Africa. Its registered office is 7th Floor, Absa Towers West, 
15 Troye Street, Johannesburg, 2001

Sponsors
Lead independent sponsor
J. P. Morgan Equities South Africa Proprietary Limited

Joint sponsor
Absa Bank Limited (Corporate and Investment Bank)


Date: 15-08-2022 07:12:00
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