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Absa Bank - Availability of Financial Information
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ETN Issuer Code: ABSN1
Interest Rate Issuer Code: BIABS
Structured Product Issuer Code: ABSP
Actively Managed Certificate Issuer Code: ABSAMC
("Absa Bank" or "the Group")
AVAILABILITY OF FINANCIAL INFORMATION
Further to the announcement released on 10 March 2026 regarding the availability of Absa Bank's audited
Consolidated and Separate Annual Financial Statements (annual financial statements) for the reporting period
ended 31 December 2025, noteholders and stakeholders are advised that this announcement provides
information regarding the restatements in those annual financial statements and the audit opinion.
Summary of restatements to comparative information (year ended 31 December 2024) included in the
December 2025 financial statements
No changes have been made to the results for the year ended 31 December 2025 as published on 10 March
2026. Certain comparative information relating to the year ended 31 December 2024, as presented in Absa
Bank's annual financial statements for the year ended 31 December 2025, had been restated, was included in
the annual financial statements published on 10 March 2026 and is set out below.
The restatements primarily related to presentation and classification matters impacting the statement of
financial position (SOFP), statement of comprehensive income and related disclosures, with no impact on the
Group's profit or loss, other comprehensive income, equity or cash flows.
Change in naming convention: Borrowed funds to Subordinated debt [Note 1.20.2.1, page 58]
The Group refined the naming conventions applied to borrowed funding, with the line item previously
presented as "Borrowed funds" renamed "Subordinated debt". This represents a presentation-only change
and does not constitute a change in accounting policy. The change is limited to terminology and has no
impact on the recognition, measurement or classification of the underlying financial liabilities, nor on amounts
reported for the current or prior periods.
Change in presentation: Deposits and debt funding [Note 1.20.2.2, page 58-61]
The Group revised the presentation of its funding-related liabilities by combining the previously separate line
items and related notes for deposits and debt securities in issue into a single line item on the statement of
financial position and in the consolidated note. The presentation of deposits from customers and deposits
from banks has similarly been consolidated.
The impact of the change in presentation on the SOFP is as follows:
Group
31 December 2024
As previously Change in Restated
restated presentation
Rm Rm Rm
Liabilities
Deposits 1 217 946 (1 217 946) -
Debt securities in issue 207 341 (207 341) -
Deposits and debt funding - 1 425 287 1 425 287
Group
1 January 2024
As previously Change in Restated
published presentation
Rm Rm Rm
Liabilities
Deposits 1 089 483 (1 089 483) -
Debt securities in issue 209 895 (209 895) -
Deposits and debt funding - 1 299 378 1 299 378
Company
31 December 2024
As previously Change in Restated
restated presentation
Rm Rm Rm
Liabilities
Deposits 1 219 774 (1 219 774) -
Debt securities in issue 202 092 (202 092) -
Deposits and debt funding - 1 421 866 1 421 866
Company
1 January 2024
As previously Change in Restated
published presentation
Rm Rm Rm
Liabilities
Deposits 1 090 888 (1 090 888) -
Debt securities in issue 207 148 (207 148) -
Deposits and debt funding - 1 298 036 1 298 036
Correction of prior period error: Misstatement between interest income and interest expense in the
Company's financial statements [Note: 1.20.1, page 57]
A prior-period error was identified relating to the elimination of intercompany interest income and interest
expense, resulting in an understatement of both interest income and interest expense in the comparative
period.
The impact of the misstatement on the statement of comprehensive income is as follows:
31 December 2024
As previously Correction of
published error Restated
Rm Rm Rm
Net interest income 45 259 - 45 259
Interest and similar income 130 496 3 269 133 765
Effective interest income 127 632 - 127 632
Other interest income 2 864 3 269 6 133
Interest expense and similar charges (85 237) (3 269) (88 506)
Audit Opinion
Noteholders and stakeholders are advised that the annual consolidated financial statements were audited by
PwC and KPMG, who expressed an unmodified audit opinion thereon. The auditors' unmodified report
includes a reportable irregularity, which is no longer taking place, relating to a matter concerning a former
non-executive director who failed to disclose information that was relevant to the director's appointment. This
director is no longer with the Group, and the matter is now closed.
The full audit opinion and financial statements can be accessed in the following link
https://www.absa.africa/investor-relations/annual-reports/ as part of the Bank's full annual financial
statements.
Johannesburg
21 April 2026
Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)
Date: 21-04-2026 08:54:00
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