|  |  | Property Finance |  | | |
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Stewart Shaw-Taylor, 50
Managing Director, Property Finance
CA (SA)
Appointed 1994
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What we do
We provide property-related finance and advisory services and undertake joint ventures. Activities span commercial, industrial, office, retail, wholesale residential developments and specialised property. All operations are supported by our central office in Johannesburg. We have representative offices in major urban areas within South Africa as well as properties owned, financed and managed across sub-Saharan Africa.
How we did
|
2002 |
2001 |
| Total assets (Rm) |
9 871 |
8 190 |
| Headline earnings (Rm) |
166 |
126 |
| Headline ROE (%) |
28,5 |
22,3 |
| Cost-to-income ratio (%) |
28,9 |
26,8 |
| Headline earnings contribution (%) |
3 |
3 |
The year ahead
We will:
- capitalise on our reputation for exceptional service in finance, advisory services and joint ventures
- continue to selectively identify opportunities in the property market offering attractive funding for development projects and property acquisitions
- maintain our focus on value-added customer service levels and relationships
Good performance, despite property oversupply
Property Finance increased headline earnings by 32% in 2002 mainly through growth in the structured loan book and increased involvement as financier and facilitator to the listed property sector. Joint venture activity and growth in the commercial property loan book were also contributing factors.
This performance, which was further boosted by realisation of certain listed trading property investments, was commendable considering the general oversupply in the market.
Property Finance participates, on a selective basis, in the development of commercial properties with well established property developers in the major urban centres of South Africa.
Property Income Fund launched
The Standard Bank Property Income Fund was successfully launched and since inception has been among the top performers in the unit trust industry.
In five years, the division’s earnings have increased almost fivefold, while assets have more than doubled.
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