Barclays Africa Group

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Mar 19, 2018 - The information and content made available through this webinar is provided by PSG as general information
Barclays Africa Group 19 March 2018

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Recommendation

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BGA Highlights • Financial Highlights: • • • • • •

Net interest income ↑ 1% (+3% CCY) Credit loss ratio ↓ to 0.87% (2016: 1.08%) Non-interest revenue ↑ 1% (+2% CCY) Cost-to-income ratio deteriorated to 56.8% (2016: 55.2%) Diluted HEPS ↑ 4% to 1 838 cents Final dividend ↑ 4%

• Prospects: • • • • •

Improved loan and deposit growth Slight decline in net interest margin Strict cost containment → improved cost-to-income ratio Stable credit loss ratio ROE marginally ahead of previous year

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Portfolio Guidance • Capped SWIX weighting of 2.45% • Recommended portfolio exposure of up to 3.47%

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Place a trade

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