Absa Group Limited (JSE:ABG) News - Audited summary consolidated results for the reporting period ended 31 December 2021

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”)


Audited summary consolidated results for the reporting period ended 31 December 2021
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.

We are listed on the Johannesburg Stock Exchange and have banks in Botswana, Ghana, Kenya, Mauritius, Mozambique,
Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia as well as
insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. We also have representative offices in
Namibia, Nigeria and United States as well as securities entities in the United Kingdom and the United States, along with
technology support colleagues in Czech Republic.

We help create, grow and protect wealth through partnerships in economic development, while playing a shaping role in
Africa’s growth and sustainability.


15 countries
1 007 outlets*
8 668 ATMS
35 267 employees
2.7m digitally active customers
123 153 point-of-sale devices
 *Outlets include 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

Normalised financial results as a consequence of Barclays PLC Separation

A normalised view of the 2021 annual 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.
Performance overview for the period ended 31 December 2021

                                                      Total income
 2021              Increased 5.3%      2020              2021            Increased 5.5%    2020
 R85 906m          IFRS                R81 593           R85 873m        Normalised        R81 382m

                                     Headline earnings per ordinary share
 2021              Increased >100%     2020              2021            Increased >100%   2020
 2 147.1 cents     IFRS                730.9 cents       2 197.0cents    Normalised        946.5 cents

                                              Basic earnings per share
 2021              Increased >100%     2020              2021            Increased >100%   2020
 2 139.6 cents     IFRS                711.8 cents       2 193.9 cents   Normalised        940.2 cents

                                      Net asset value per ordinary share
 2021              Increased 12.1%     2020              2021            Increased 13.5%   2020
 15 641 cents      IFRS                13 957 cents      14 868 cents    Normalised        13 103 cents

                                                 Return on equity
 2021              Increased           2020              2021            Increased         2020
 14.6%             IFRS                5.2%              15.8%           Normalised        7.2%

                                               Cost-to-income ratio
 2021              Decreased           2020              2021            Decreased         2020
 56.6%             IFRS                59.0%             55.2%           Normalised        56.0%

                                                Net interest margin
 2021              Increased           2020              2021            Increased         2020
 4.46%             IFRS                4.17%             4.46%           Normalised        4.17%

                                          Dividend per ordinary share
 2021                                  Increased 100%                    2020
 785 cents                             IFRS                              0 cents


Loans and deposits growth
Gross loans and advances (Increased 7%)
R 1 133.7bn (2020: R 1 058.2bn)


Deposits (Increased 12%)
R1 173.8bn (2020: R 1 048.0bn)
Risk profile
Stage 3 loans ratio to gross loans and advances
5.43% (2020: 6.28%)

Liquidity Coverage Ratio:
116.8% (2020: 120.6%)


Sound capital
Common Equity Tier 1 ratio
12.8% (2020: 11.2 %)



Short form statement
This short-form announcement is the responsibility of the directors of Absa Group Limited. It is only a summary of the
information contained in the full announcement. Any investment decisions by stakeholders should be based on
consideration of the full announcement published on 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/FY21Result.pdf.

While this announcement is not audited, the consolidated annual financial statements from which the results
are derived were audited by Ernst & Young Inc. and KPMG Inc., who expressed an unmodified opinion thereon. The full audit
opinion, including any key audit matters, is available at the following link https://www.absa.africa/absaafrica/investor-
relations/annual-reports/ as part of the Group's full annual financial statements which will be made available on 14 March
2022. The annual financial statements and auditors’ report thereon are available for inspection at the Company’s registered
office. 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.


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


Board of directors
Group independent non-executive directors
W E Lucas-Bull (Independent Chairman), S Moloko (Chairman designate), T Abdool-Samad, A B Darko(1)(4), R A Keanly, S J
Munyantwali (3)(4), D Naidoo, F Okomo-Okello, I Rensburg, N S Mjoli-Ncube (Lead independent director), R van Wyk, J
JCummins(4)

Group non-executive directors
F Tonelli

Group executive directors
J P Quinn (Interim Group Chief Executive), P E Modise (Interim Group Financial Director)
(1) Ghanaian   (2) Kenyan
(3) Ugandan    (4) British
Declaration of a final ordinary dividend number 69

Shareholders are advised that a final ordinary dividend of 475 cents per ordinary share was declared on 14 March 2022, for
the period ended 31 December 2021. The ordinary dividend is payable to shareholders recorded in the register of members
of the Company at the close of business on Friday, 22 April 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 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 475 cents per ordinary share for shareholders exempt from the dividend tax.

    -
        The net local dividend amount is 380.00 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 17 465 332 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, 19 April 2022
Shares commence trading ex-dividend                Wednesday, 20 April 2022
Record date                                        Friday, 22 April 2022
Payment date                                       Monday, 25 April 2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 20 April 2022 and Friday, 22 April
2022, both dates inclusive. On Monday, 25 April 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, 25 April 2022.


On behalf of the board


N R Drutman
Company Secretary


Johannesburg
14 March 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: 14-03-2022 07:05:00
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