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(Registered Bank) Company code: ABKI RELEASE OF THE AUDITED FINANCIAL RESULTS FOR AFRICAN BANK LIMITED AND RELATED GROUP INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2020 African Bank is pleased to announce that the Bank and its holding company, African Bank Holdings Limited ( ABH or ABH Group or the Group ), released their audited financial statements for the year ended 30 September 2020 ( results and ABH consolidated results , respectively) today. The Bank s stand-alone results are addressed first, followed by the more comprehensive ABH consolidated results. The challenging South African macroeconomic environment, exacerbated by the Covid-19 pandemic and related national lockdown measures, negatively impacted the Bank s performance primarily through higher credit impairments. As a consequence, the Bank reported a net loss after tax of R560 million, for the year ended 30 September 2020 (FY 2019