| Advances |
| R million |
30 Sep 2007 |
% growth |
30 Sep 2006 |
% growth |
30 Sep 2005 |
| Retail |
8 248 |
51 |
5 474 |
39 |
3 926 |
| Mining |
925 |
24 |
748 |
15 |
651 |
| Credit card |
466 |
>100 |
73 |
n/a |
0 |
| Payroll |
462 |
(6) |
494 |
(20) |
614 |
| Standard Bank JV |
256 |
(33) |
383 |
10 |
348 |
| Commercial Vehicle Finance |
0 |
n/a |
0 |
(100) |
254 |
| Pay down portfolio |
533 |
(4) |
555 |
(16) |
661 |
| Gross advances |
10 890 |
41 |
7 727 |
20 |
6 454 |
|
| |
The growth in advances for the year of 41% to R10,9 billion
was as a result of the compounded effect of a 22% growth
in the number of loans granted and a 15% growth in
average loan sizes. Particularly strong growth was achieved
in the retail debit order portfolio, where the price reduction
strategies have had the greatest effect.
The paydown books fell only 4% over the year. Whilst
R174 million in cash receipts were collected on these
books, R162 million of loans were also rehabilitated back
onto the balance sheet that were previously
written off. |
| |
| Advances |
| |
Growth in
number
of loans
% |
Growth in
average
balance
outstanding % |
30 Sep 2007 |
30 Sep 2006 |
Number
of active
loans
000 |
Average
balance
outstanding
Rand |
Number
of active
loans
000 |
Average
balance
outstanding
Rand |
| Retail |
24 |
21 |
1 252 |
6 586 |
1 006 |
5 442 |
| Mining |
(2) |
26 |
201 |
4 602 |
205 |
3 642 |
| Credit card |
>100 |
(22) |
157 |
2 971 |
19 |
3 802 |
| Payroll |
(19) |
15 |
56 |
8 226 |
69 |
7 157 |
| Standard Bank JV |
(28) |
(8) |
85 |
3 019 |
117 |
3 269 |
| Pay down portfolio |
(12) |
10 |
52 |
10 271 |
59 |
9 363 |
| Total |
22 |
15 |
1 803 |
6 040 |
1 476 |
5 235 |
|
| |
Due to the wider scope of clients that the credit card is now
targeted at, average facility limits have fallen and therefore
the average outstanding balance reduced from R3 802 in
2006 to R2 971 in 2007.
The following graph shows the growth trend in gross
advances over the last two years, as well as the lengthening
of average term at each major repricing point. |
| |
| Monthly advances growth |
 |
| |
| The following graph analyses the remaining duration of the book at each financial year end. Due to the fact that loans are paid back in equal monthly instalments, the average maturity profile reflects a shorter duration than the nominal term of the loans, however the lengthening term is spreading the maturity profile more evenly with 45% of loans having a maturity of longer than 12 months (Sept 2006: 31%). |
| |
| Advances maturity ladder |
 |
|
