Here's the deal: You may read the information on the site for free. As and when I have the time I'll add new articles, taking into account any questions which have been asked. For legal reasons, please do not consider anything on this site to be advice - the only free investment advice is to apply your own mind. If you want to request that an article be written, then email me. I have limited time available, and will prioritise the work accordingly, so please be patient. Email me at invest@freeinvestmentadvice.org.
African Bank share analysis |
(this is old - retained for archive purposes alone)
The banking business unit of African Bank Investments Limited (ABIL) consists of African Bank (including Ellerines Financial Services) as well as Stangen (Standard General Insurance Company).
The Retail Business Unit (EHL) "consists of furniture retail, financial services of foreign stores & the product insurance activities of Relyant Insurance Company (Relyant)".
ABIL is listed on the Johannesburg Stock Exchange, and has a USD300m bond listed on the London Stock Exchange. ABIL is 12% owned by the PIC & 10% by JP Morgan Asset Management. Directors own 5% of ABIL & Eyomhlaba Investment Holdings (BEE program) another 5%.
|
Bank |
Retail |
Earnings |
R2302m |
R190m |
African Bank personal loans are offered on a short & long-term basis. On HelloPeter we can see that African Bank feedback consists 28% of compliments & 72% of complaints (this is about average for suppliers of personal loans), with 45% of complaints being about billing/accounts.
Ellerines Holdings Limited (EHL) is a furniture & appliances retailer, where the purchase of goods may be financed through credit facilities offered by African Bank. The Relyant Insurance Company offers voluntary product insurance on goods bought from EHL.
EHL sells the following brands: Ellerines, Beares, Furniture City, Geen & Richards, Wetherlys & Dial a Bed.
Leonida Kirkinis is CEO of ABIL.
Gordon Schachat is Executive deputy chairman of ABIL.
Mutle Constantine is the Chairman.
Antonio Fourie is an Executive director, and CEO of Ellerines.
Sep 2010. African Bank Limited acquires Ellerines Financial Services (excluding the advances generated from stores outside South Africa). The results to 30 Sep 2011 are the first where EHL is reported upon in the Banking business unit. Previously the profits of Ellerines Financial Services were included in the Ellerines Retail business unit.
Due to regulations, our emails and this entire website should be considered as having been set up for entertainment purposes alone. Expect errors and omissions. Investment in shares and other financial instruments should be conducted by professional investment experts only. Any use of the information on my websites, emails and newsletters is at your own risk, and by using it you agree that the owners of our websites, authors and associated parties wont be held liable for any losses suffered as a result of using the information. None of the information should be construed as being advice. Our newsletters, articles, discussions and website are not an offering for any investment. It represents only our and others' opinions. Any views expressed are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest. Illustrations, forecasts or hypothetical data are not guaranteed and are provided for illustrative purposes only. There are risks involved in buying or selling a financial product. Past performance is not indicative of future performance. Any investment values given are not guaranteed. Investment returns can be volatile. When investing there is always the risk of losing all or a substantial amount of your investment, as well as the risk of illiquidity. There may be advertisements on some pages on this website, and we may earn income from these advertisements. We may earn commission on products invested in or annuities purchased. We cannot attest to the accuracy of the material presented here, and opinions expressed may be changed without prior notice. In any event our liability will be limited to R1, and any court cases must take place in Cape Town. You may contact us at invest@freeinvestmentadvice.org