Companies and Deals
Credit losses, impairment weigh on interim results.
Roland Sassoon, group chief executive officer, Sasfin Bank.
Sasfin Holdings aims to separate its diversified business into three distinct businesses Banking, Wealth and Capital by mid-year, after a tough interim period.
The group reduced its dividend for the six months to December 31 2016, by 18.84% to 80 cents per share, after earnings declined by a similar margin.
Headline earnings and headline earnings per share fell to R86.14 million and 271.41 cents, down from R106.14 million and 334.43 cents respectively. It attributed the decrease to credit losses and a write down in its investment in Efficient Group, due to a decline i…
Read the full article at: https://www.moneyweb.co.za/news/companies-and-deals/sasfin-to-restructure-business/