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Since 1890 we have provided tailored global and local investment offerings to private and institutional clients.

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Investor Relations

Shareholder case

Sasfin is a banking and financial services group, offering tailor-made products and services to entrepreneurs, corporates and high net-worth individuals.

With Sasfin’s comprehensive range of products and services as well as an understanding of your business and personal finance needs, you are assured of results beyond expectations.

Our purpose

We contribute to society by going beyond a bank to enable growth in the businesses and global wealth of our clients.

SENS

News

30 Sep 2020

Sasfin digital business banking set to grow

19 Mar 2020

Sasfin Interim Results

18 Nov 2019

Excellence in reporting acknowledged as Sasfin wins at the 2019 CSSA Integrated Reporting Awards!

19 Mar 2019

Sasfin reports 60% growth in headline earnings for the Half Year

06 Mar 2019

Sasfin and hello paisa power banking for the unbanked

17 Sep 2018

Media Release: Annual Results for the year ended 30 June 2018

03 Apr 2018

Media release: Sasfin launches B\\YOND - the digital banking future for business

27 Nov 2017

WIPHOLD shareholding makes Sasfin one of the most empowered banks in SA

08 Jun 2017

Sasfin and WIPHOLD conclude B-BBEE transaction

01 Feb 2017

Xero and Sasfin Bank join forces to help SMEs

Results, reports and presentations

Disclosures
  • Basel - Public Disclosure

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    Pillar III Risk Management Report 30 June 2020

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    Basel Pillar III Disclosure Report for the quarter ended 31 December 2019

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    Basel Pillar III Disclosure Report 30 September 2019

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    Basel Pillar III Disclosure for the year ended 30 June 2019

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    Basel Pillar III Disclosure - 31 March 2019

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    Basel Pillar III Disclosure Report - 31 December 2018

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    Pillar 3 Disclosure - SASFIN Qualitative Disclosure - June 2018

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    Pillar 3 Disclosure - SASFIN Bank Limited - June 2018

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    Pillar 3 Disclosure - SASFIN Bank Holdings - June 2018

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    Pillar 3 Disclosure - SASFIN Bank Consolidated - June 2018

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    SHL - Reg 43 31 Dec 2017 re-submission

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    Comprehensive Pillar 3 Disclosure Dec 2017 Bank consolidated

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    Comprehensive Pillar 3 Disclosure Dec 2017 Group

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    Comprehensive Pillar 3 Disclosure Dec 2017 Bank solo

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    Sasfin Holdings Limited - Reg 43 31 June 2017

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    Holdings - Comprehensive Pillar 3 Disclosure June 2017

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    Bank Consolidated - Comprehensive Pillar 3 Disclosure June 2017

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    Bank Solo - Comprehensive Pillar 3 Disclosure June 2017

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    Pillar 3 qualitative disclosures - June 2017

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    Sasfin Holdings Limited Capital Adequacy - Quarterly Report 31 December 2016

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    Sasfin Bank Limited (CONSOL) Pillar 3 - Semi Annual Report - 31 December 2016

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    Sasfin Bank Limited (SOLO) Pillar 3 - Semi Annual Report - 31 December 2016

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    Sasfin Holdings Limited Pillar 3 - Semi-annual Report - 31 December 2016

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    Basel III Pillar 3 Disclosure – 30 September 2016

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    Comprehensive Pillar 3 Disclosure - 31 December 2015

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    Capital Adequacy - Semi-annual Report - 31 December 2015

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    Comprehensive Pillar 3 Disclosure June 2015

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    Comprehensive Pillar 3 Disclosure December 2014

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    Capital Adequacy - Semi-annual Report - 31 December 2014

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    Comprehensive Pillar 3 Disclosure June 2014

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    Capital Adequacy - Semi-annual Report - 31 December 2013 Comprehensive Disclosure

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    Capital Adequacy – Semi-annual Report – 31 December 2013

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    Capital Adequacy - Annual Report - 30 June 2013 Comprehensive Disclosure

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    Capital Adequacy - Annual Report - 30 June 2013

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    Capital Adequacy - Quarterly Report - 31 March 2013

  • South African Securitisation Programme (RF) Ltd

    JUNE 2020

    SASP S1 Investor Report June 2020

    JUNE 2020

    SASP S2 Investor Report June 2020

    JUNE 2020

    SASP S3 Investor Report June 2020

    March 2020

    SASP S1 Investor Report 29 February 2020

    March 2020

    SASP S2 Investor Report 29 February 2020

    March 2020

    SASP S3 Investor Report 29 February 2020

    FEBRUARY 2020

    SASP 1 Investor Report 31 December 2019

    FEBRUARY 2020

    SASP 2 Investor Report 31 December 2019

    FEBRUARY 2020

    SASP 3 Investor Report 31 December 2019

    NOVEMBER 2019

    SASP 1 Investor Report 30 September 2019

    NOVEMBER 2019

    SASP 2 Investor Report 30 September 2019

    NOVEMBER 2019

    SASP 3 Investor Report 30 September 2019

    OCTOBER 2019

    SASP Annual Financial Statements 2019

    August 2019

    SASP S3 Investor Report 31 May 2019

    August 2019

    SASP S3 Investor Report 28 February 2019

    August 2019

    SASP S2 Investor Report 28 February 2019

    August 2019

    SASP S2 Investor Report 31 May 2019

    August 2019

    SASP S1 Investor Report 31 May 2019

    August 2019

    SASP S1 Investor Report 28 February 2019

    February 2018

    SASP Program Memorandum Aug 2015

    February 2018

    SASP Annual Financial Statement 2017

    February 2018

    SLRA3 Pricing Supplement

    February 2018

    SLRA4 Pricing Supplement

    February 2018

    SLRB3 Pricing Supplement

    February 2018

    SLRB4 Pricing Supplement

    February 2018

    SLRC3 Pricing Supplement

    February 2018

    SLRC4 Pricing Supplement

Shareholder diary

Corporate governance

King III: How the 75 Principles of Corporate Governance are being applied within the Sasfin Group

Board charters and committees

  • The Board Charter

    INTRODUCTION
    The Board of Directors (the Board) of Sasfin Holdings Limited, “SHL”, or where the context requires, “the Group” subscribes to good corporate governance. It has developed a Board Charter in accordance with the recommendations of the King IV Report on Corporate Governance (King IV).

    Whilst embracing the King IV principles of good governance, summarised in Annexure 1 attached, and the Basel Committee on Banking Supervision (Basel Committee) corporate governance principles for banks, summarised in Annexure 2 attached, the Board and SHL are required to be compliant with South African legislation (including the South African Constitution) and, in particular, the Banks Act, 1990, as amended, the Companies Act, 2008, as amended, and the JSE Listings Requirements.

    This Board Charter is complementary to SHL’s Memorandum of Incorporation (“MoI”). It is not intended to amend or replace the MoI in any way whatsoever.

    1. PURPOSE OF THE CHARTER
    This Charter sets out:

    • The roles, functions, obligations, responsibilities and authority of the Board; and
    • The policies and procedures of the Board in respect to its duties, functions and responsibilities.

    Click here to access the Sasfin Holdings Limited Charter

  • Roles and Responsibilities of the board committees
    • ASSET AND LIABILITY COMMITTEE ("ALCO")

      The Committee shall have the authority to determine the strategy for the management of Sasfin’s asset and liability portfolio, as well as related risk management strategies, given its expectations of future events.

      The Committee may, in the fulfilment of its duties:

      • Source additional information from the chairpersons of other Sasfin Board committees, any of the executive directors, officers, management and the Group Company Secretary to enable informed decision making;
      • Have reasonable access to Sasfin’s records, facilities and any other resources necessary to discharge its roles, responsibilities and duties;
      • Delegate authority to sub-committees and to one or more designated members of the Committee;
      • Obtain independent external professional advice and opinion to assist with the execution of its duties;
      • Make ALM related recommendations to the Boards where action or improvement is required;
      • Approve appropriate ALM policies on behalf of the Boards;
      • Undertake ad-hoc or special work and / or investigations on behalf of the Boards, at the request of the Boards; and
      • Authorise any relevant operational or capital expenditure in accordance with pre-determined limits which the Boards may set from time to time.
      Responsibilities:

      It is the responsibility of the Committee to monitor and oversee that:

      • Sasfin has developed and implemented effective ALM policies and strategies that will enhance Sasfin’s ability to achieve its strategic objectives;
      • The management, measurement and reporting of all risks to the Committee must adhere to the Risk Data Aggregation and Risk Reporting (RDARR) principles of accuracy, comprehensiveness, clarity and usefulness, frequency and distribution;
      • The ALM strategies adopted enable Sasfin to manage its ALM Risks within the limits established by:
        • the risk appetites set by ALCo and the GRCMC, and approved by the Boards:
        • the relevant regulatory limits such as the Net Stable Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR); and
        • various covenants applied by the funders of Sasfin.
      • Guidance and assistance is provided to the GRCMC with regard to the Group’s capital structure, ,  the Group’s long-term capital planning  and capital budgets, taking into account potential sources of capital, future growth plans, Balance Sheet structure and regulatory  requirements;
      • All relevant legislation, either current, amending or new legislation, as well as all relevant regulations and guidelines, as amended and issued from time to time, are adhered to and complied with, in particular, the Banks Act, and specifically regulation 26 thereof;
      • The following matters are, inter alia, overseen, reviewed and reported on and, where necessary, recommendations to the Board on these matters are made:
      • Economic overview & market forecasts;
      • Status update on the ALM strategy, with reference to existing market circumstances;
      • Decisions regarding new ALM strategies;
      • Assessment of relevant ALM risks, and management thereof, including stress testing and appropriate forward looking components:
      • Liquidity and funding risk;
      • Interest rate risk;
      • Balance sheet and capital management;
      • Foreign exchange risk;
      • Asset and liability concentrations;
      • Debt Capital Markets;
      • Fixed Income Book;
      • Derivatives positions;
      • Financial performance indicators as they pertain to ALM management;
      • Compliance with internal policies, laws, regulations, covenants, guidelines and best practice and adherences to limits set in respect thereof.Members are fully prepared for Committee meetings, to provide appropriate and constructive input on matters discussed;
      • All Internal Audit, Combined Assurance and Compliance reports pertaining to the management of ALM risk are reviewed and noted.

    • CREDIT AND LARGE EXPOSURES COMMITTEE ("CLEC")

      The Committee shall have the authority to approve, on behalf of the Boards, all credit and investment exposures that fall within the parameters which require Board approval from time to time.

      The Committee may, in the fulfilment of its duties:

      • Source additional information from the chairpersons of other Sasfin Board committees, any of the executive directors, officers, management and the Group Company Secretary to enable informed decision making;
      • Have reasonable access to Sasfin’s records, facilities and any other resources necessary to discharge its roles, responsibilities and duties;
      • Delegate authority to sub-committees and to one or more designated members of the Committee;
      • Obtain independent external professional advice and opinion to assist with the execution of its duties;
      • Make credit, large exposure and investment related recommendations to the Boards where action or improvement is required;
      • Approve appropriate policies on behalf of the Boards;
      • Undertake ad-hoc or special work and / or investigations on behalf of the Boards, at the request of the Boards; and
      • Authorise any relevant operational or capital expenditure in accordance with pre-determined limits which the Boards may set from time to time.
    • RESPONSIBILITIES
      • Sasfin has developed and implemented an effective policy and strategy for the management of credit risk, large exposures and investment risk that will enhance Sasfin’s ability to achieve its strategic objectives;
      • The management, measurement and reporting of all risks to the Committee must adhere to the Risk Data Aggregation and Risk Reporting (RDARR) principles of accuracy, comprehensiveness, clarity and usefulness, frequency and distribution;
      • All relevant legislation, either current, amending or new legislation, as well as all relevant regulations and guidelines, as amended and issued from time to time, are adhered to and complied with.
      • Members are fully prepared for Committee meetings, to provide appropriate and constructive input on matters discussed.
      • The following matters are, inter alia, overseen, reviewed and reported on and, where necessary, recommendations to the Boards on these matters are made:

        It is the responsibility of the Committee to ensure that:

      • Review of management decisions relating to Sasfin’s defined Large Facilities (currently >R50m) made within their delegated authority;
      • Quarterly review of all investment exposures above the Capital Investment Committee limit  (currently > R50m);
      • Review of the Credit Policy and compliance with that policy, ensuring that sound and well-defined credit-granting criteria is applied;
      • Monitor loan quality through problem loan reports, past due reports, write-offs, and potential loss predictions;
      • Monitor adequacy of impairments;
      • Consider concentrations and industry trends in the portfolio;
      • Keep management informed of economic and industry trends that Committee members are aware of;
      • The Committee shall determine what Rand limits are appropriate for management mandates and may amend such limits periodically;
      • Conduct credit and investment activities within the risk strategy, policies and tolerances framework approved by the Boards;
      • Approve credit and grant investments on an arm’s length basis;
      • Ensure credit and investment activities are subject to adequate internal controls and appropriate internal audit coverage;
      • Ensure adequate capital exists for the risk that Sasfin assumes;
      • In respect of Credit Risk, set and monitor maximum risk appetite limits that are within the prudential limits for single entities or a closely related group of entities;
      • Ensure sufficient management information systems exist to enable management to identity, on a timely basis, concentration within the portfolio on a solo and consolidated basis; and
      • Monitor approved limits by management and report any excesses.
  • King IV Disclosure Matrix

    Our view on corporate governance and meeting the four governance outcomes in King IV, namely an ethical culture, good performance, effective control and legitimacy, have been addressed in the 2019 Integrated Report.  The key applications by Sasfin of the principles contained in King IV, with reference to the practices to demonstrate the application of the individual principles are explained in the table below. It includes page references to the Integrated Report (available at www.sasfin.com > Investor Relations > Results, Reports and Presentations) where further information is available.

    Principle Sasfin application

    PRINCIPLE 1

    The governing body should lead ethically and effectively.

    The Board adheres to its fiduciary duties by providing leadership and strategic guidance aimed at protecting stakeholder interests and shareholder value within a governance framework which is reviewed for effectiveness on a regular basis. (Refer to page 66 and 76)

    PRINCIPLE 2

    The governing body should govern the ethics of the organisation in a way that supports the establishment of an ethical culture.

    The Board sets the Group’s ethical tone and operates with a strong culture of integrity and competence. Sasfin’s values and ethical standards are integral to our stakeholder relationships, and are implicit in how we do business. Our robust policies prevent market abuse, conflicts of interest, bribery and other unethical conduct. Other policies promoting positive ethics are also disseminated to employees. (Refer to page 16,54 and 76)

    PRINCIPLE 3

    The governing body should ensure that the organisation is and is seen to be a responsible corporate citizen.

    The Board, together with the SEC, ensure that our business activities, CSI initiatives and sustainability strategy ensure that we contribute to society as a responsible and ethical corporate citizen. In particular, that our lending and investment activities are consistent with this approach. (Refer to page 100)

    PRINCIPLE 4

    The governing body should appreciate that the organisation’s core purpose, its risks and opportunities, strategy, business model, performance and sustainable development are all inseparable elements of the value creation process.

    The Board delegates to management, via Group Exco, the formulation of strategy which is considered and approved by the Board, including key performance measures and targets over the short-, medium- and long-term, and oversees the implementation thereof within the overall context in which Sasfin operates. The Board evaluates management’s performance against the purpose and strategic focus areas. (Refer to page 23)

    PRINCIPLE 5

    The governing body should ensure that reports issued by the organisation enable stakeholders to make informed assessments of the organisation’s performance and its short-, medium- and long-term prospects.

    The Board is responsible for the Integrated Report and approves interim and year-end communications, including all SENS announcements, disclosures made in terms of Regulation 43 of the Banks Act and other media statements. (Refer to page 4 and 8)

    PRINCIPLE 6

    The governing body should serve as the focal point and custodian of corporate governance in the organisation.

    The Board, supported by the DANC, ensures that applicable governance practices and principles are adhered to, and acknowledges that it is responsible for the performance and strategic direction of the Group. (Refer to page 16 and 82)

    PRINCIPLE 7

    The governing body should comprise the appropriate balance of knowledge, skills, experience, diversity and independence for it to discharge its governance role and responsibilities objectively and effectively.

    The Board composition is aligned to King IV™ requirements regarding the mix of Independent, Non-Executive, and Executive Directors. The mix of skills, contribution and tenure of directors is monitored and reassessed regularly by the DANC. Refer to page 70 for new standards applicable to Banks regarding director independence and their impact on Sasfin. (Refer to page 16, 69, 70 and 72)

    PRINCIPLE 8

    The governing body should ensure that its arrangements for delegation within its own structures promote independent judgement, and assist with balance of power and the effective discharge of its duties.

    The Board has committees to which it has delegated specific roles and responsibilities. Committee members for each committee are selected according to their suitability in terms of their qualifications and experience, which are assessed through annual effectiveness reviews.

    Sasfin ensures that the membership of all Board committees is managed effectively to ensure an appropriate spread of responsibility and independence.

    The executive team and management operate under a defined authority matrix which aims to ensure there is effective collaboration and accountability. (Refer to page 83)

    PRINCIPLE 9

    The governing body should ensure that the evaluation of its own performance and that of its committees, its Chair and its individual members, support continued improvement in its performance and effectiveness.

    The Board and each committee conducted an internal assessment exercise, both in respect of the Board itself and in respect of each committee. The Chair has been assessed by the Board under the leadership of the Lead Independent Director.

    An external assessment of the Board and each committee is usually conducted every three years, but this exercise has been postponed until 2020 given the change of Board composition, which is underway. (Refer to page 16 and 76)

    PRINCIPLE 10

    The governing body should ensure that the appointment of, and delegation to management contribute to role clarity and the effective exercise of authority and responsibilities.

    The Board oversees all key executive appointments and is satisfied that the delegation of authority framework contributes to role clarity and the effective exercise of authority and responsibility. (Refer to page 76)

    PRINCIPLE 11

    The governing body should govern risk in a way that supports the organisation in setting and achieving its strategic objectives.

    The Board defines the Group’s risk appetite and risk tolerance, which are formalised in risk appetite statements and relevant metrics based on input from the GRCMC. These are further broken down into measurable tolerance levels. Executive oversight of the risk function is delegated to the CRO. (Refer to page 60)

    PRINCIPLE 12

    The governing body should govern technology and information in a way that supports the organisation to set and achieve its strategic objectives.

    The IT Committee oversees IT governance and monitors the development and execution of the IT strategy through an IT governance framework, policies and procedures. It provides oversight, monitors and evaluates significant IT investments and expenditure, and oversees the governance of IT risk. (Refer to page 50)

    PRINCIPLE 13

    The governing body should govern compliance with applicable laws and adopted, non-binding rules, codes and standards in a way that supports the organisation being ethical and a good corporate citizen.

    The Group’s independent compliance function focuses on areas such as banking regulation, AML, market conduct, exchange control and regulatory interaction responsible for mitigating compliance risk. The Board acknowledges its accountability and provides the necessary guidance regarding the management of compliance risk and ensures that it obtains sufficient assurance in this regard and delegates specific oversight responsibility to the GACC. (Refer to page 54 and 78)

    PRINCIPLE 14

    The governing body should ensure that the organisation remunerates fairly, responsibly and transparently so as to promote the achievement of strategic objectives and positive outcomes in the short-, medium- and long-term.

    REMCO considers whether remuneration is fair and consistent, and encourages behaviour which is commensurate with the strategic direction and risk appetite of the Group through a combination of fixed and variable pay. The Group’s remuneration policy and Implementation Report are subject to non-binding votes by shareholders and take into account feedback received from shareholders in formulating remuneration policies. (Refer to page 88)

    PRINCIPLE 15

    The governing body should ensure that assurance services and functions enable an effective control environment, and that these support the integrity of information for internal decision-making and of the organisation’s external reports.

    The GACC oversees the responsibility for ensuring that internal assurance functions and external assurance services facilitate an effective control environment. It does so by using the combined assurance provided by the Group’s Risk, Compliance, Internal Audit and external audit reports to arrive at a holistic risk-based assessment of the Group’s governance, risk management and control processes. (Refer to page 3, 4 and 80)

    PRINCIPLE 16

    In the execution of its governance role and responsibilities, the governing body should adopt a stakeholder-inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the organisation over time.

    The Board has identified all its key stakeholders and recognises the importance of maintaining these relationships. It manages stakeholder risk as an integral part of its overall risk management framework, through routine engagement with key stakeholders and seeks to address stakeholder concerns in guiding the Group’s future strategy and operating model. (Refer to page 16, 56 and 67)

    PRINCIPLE 17

    The governing body of an institutional investor organisation should ensure that responsible investment is practised by the organisation to promote good governance and the creation of value by the companies in which it invests.

    The Group has a social and environmental management policy framework which guides the Group’s investment activities and ensures that the Group’s activities do not breach international social and environmental norms. A responsible investment standard is also applied to investments made by the Wealth and Capital Pillars and overseen by the SEC from an overall Group perspective. (Refer to page 39)

B-BBEE Certificate

Click here to view Sasfin Holdings' B-BBEE certificate. 

Click here to view Sasfin Asset Managers' B-BBEE certificate. 

Contact us

Bryan Silke

Investor Relations and Board Liaison Manager
bryan.silke@sasfin.com
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