FINANCIAL services group Sasfin increased headline earnings and its annual dividend by 29% in the year to June, but its banking operation’s nonperforming loans more than doubled.In its results statement on Monday morning, Sasfin said operating conditions were tough, pointing to high unemployment and consumer indebtedness, and noted that political uncertainty was causing volatility on financial markets.Headline earnings were up 29% to R232.1m, with HEPS also up 29%, to 731.27c. The dividend for the year was increased by the same margin, to 287.39c per share.READ THIS: Junk means a spike in bad debt, bank warnsReturn on equity rose 233 basis points to 17.54% and assets grew 1.3% to R11bn.The credit loss ratio rose 31 basis points to 108 basis points.Gross loans and advances rose 20.6% to R6.5bn, but nonperforming loans more than doubled, rising 101% to R423m. As a percentage of gross loans and advances, NPLs were 6.56%, from 3.93% before.The capital adequacy ratio of the group fell t...
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