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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

SBN Holdings

SNO · Namibian Stock Exchange · Consolidated statements

On this page
Company details
Legal name
SBN Holdings Limited
Listing
SNO on the Namibian Stock Exchange, active (observed 2026-10-06)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2023 · annual report, signed / final · source

  • Net interest income

    NAD 1.80 billion

    1,800,015 NAD thousands · p36

    +24.6% vs 2022

    Interest income less interest expense, as printed.

  • Total net income1

    NAD 3.26 billion

    3,255,108 NAD thousands · p36

    +19.3% vs 2022

    The bank's own total of its income lines before credit impairment and operating expenses, under its printed label. What it includes differs between banks; it is not revenue.

  • Profit / (loss) for the year

    NAD 770 million

    769,713 NAD thousands · p36

    +23.3% vs 2022

  • Total assets

    NAD 38.7 billion

    38,669,590 NAD thousands · p35

    +8.4% vs 2022

  • Customer deposits

    NAD 30.2 billion

    30,209,417 NAD thousands · p35

    +10.4% vs 2022

  • Total equity

    NAD 5.09 billion

    5,087,791 NAD thousands · p35

    +6.4% vs 2022

Large amounts are rounded for reading (NAD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NAD thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2023 — annual report, signed / final; reported for the year · source
  • FY2022 — annual report, signed / final; comparative in the FY2023 filing · source

Income statement

Income statement, NAD thousands. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Net interest income 1,800,015 1,444,802
Interest income 3,346,518 2,406,153
Interest expense (1,546,503) (961,351)
Non-interest revenue 1,455,093 1,283,086
Net fee and commission revenue 952,929 912,644
Fee and commission revenue 1,288,708 1,213,989
Fee and commission expense (335,779) (301,345)
Trading revenue 198,510 150,178
Other revenue1 199,312 145,901
Other gains on financial instruments2 104,342 74,363
Total net income1 3,255,108 2,727,888
Credit impairment charges (163,411) (161,213)
Net income before operating expenses3 3,091,697 2,566,675
Operating expenses (1,976,192) (1,678,675)
Net income before indirect taxation4 1,115,505 888,000
Indirect taxation5 (49,170) (29,137)
Profit before direct taxation 1,066,335 858,863
Direct taxation (296,622) (234,583)
Profit for the year 769,713 624,280
Attributable to non-controlling interest6 3,446 677
Other comprehensive (loss)/income – net of taxation1 (5,139) 3,337
value through other comprehensive income (FVOCI)7 1,319 (1,879)
Net change in expected credit loss (ECL)8 1,454 294
Net change in fair value9 (135) (2,173)
Fair value movement on post-employment benefits (note 34)10 (6,458) 5,216
Total comprehensive income for the year 764,574 627,617
Attributable to ordinary shareholders11 761,128 626,940
Attributable to non-controlling interest12 3,446 677
Notes and alternative reported figures (12)
  1. “Other revenue” is an issuer-specific line, not mapped to a shared definition: Note 28; component of non-interest revenue.
  2. “Other gains on financial instruments” is an issuer-specific line, not mapped to a shared definition: Note 29; component of non-interest revenue.
  3. “Net income before operating expenses” is an issuer-specific line, not mapped to a shared definition: Printed subtotal: total net income less credit impairment charges.
  4. “Net income before indirect taxation” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  5. “Indirect taxation” is an issuer-specific line, not mapped to a shared definition: Note 32; VAT and other indirect taxes, printed above profit before direct taxation.
  6. “Attributable to non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Attribution of profit for the year.
  7. “value through other comprehensive income (FVOCI)” is an issuer-specific line, not mapped to a shared definition: OCI that may be reclassified; printed subtotal of the two lines below it.
  8. “Net change in expected credit loss (ECL)” is an issuer-specific line, not mapped to a shared definition: OCI that may be reclassified; component of the FVOCI line.
  9. “Net change in fair value” is an issuer-specific line, not mapped to a shared definition: OCI that may be reclassified; component of the FVOCI line.
  10. “Fair value movement on post-employment benefits (note 34)” is an issuer-specific line, not mapped to a shared definition: Note 34; OCI not reclassified.
  11. “Attributable to ordinary shareholders” is an issuer-specific line, not mapped to a shared definition: Attribution of total comprehensive income.
  12. “Attributable to non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Attribution of total comprehensive income.

Balance sheet

Balance sheet, NAD thousands. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Cash and balances with the central bank 1,675,382 1,673,337
Derivative assets 71,123 138,918
Trading assets 494,985 474,621
Financial investments1 7,103,628 4,923,014
Normal tax asset2 92,749 49,351
Properties in possession13 439,255 491,154
Loans and advances4 26,953,890 25,969,450
Other assets 424,951 441,296
Property, equipment and right-of-use assets5 904,883 951,764
Goodwill and other intangible assets6 457,901 517,733
Deferred tax asset 50,843 44,059
Total assets 38,669,590 35,674,697
Equity 5,087,791 4,782,992
Equity attributable to the ordinary shareholders 5,068,815 4,767,462
Ordinary share capital 1,045 1,045
Ordinary share premium 642,189 642,189
Reserves7 4,425,581 4,124,228
Non-controlling interest 18,976 15,530
Liabilities 33,581,799 30,891,705
Derivative liabilities 69,048 140,763
Trading liabilities8 46,366 36,799
Deposits and current accounts9 30,209,417 27,353,407
Debt securities issued10 2,230,957 2,528,252
Provisions and other liabilities11 996,875 805,008
Deferred tax liability 29,136 27,476
Total equity and liabilities 38,669,590 35,674,697
Notes and alternative reported figures (11)
  1. “Financial investments”: mapping to a shared definition is uncertain. Printed 'Financial investments' (note 4), the bank's investment securities (FVOCI debt reserve, note 4).
  2. “Normal tax asset”: mapping to a shared definition is uncertain. Printed 'Normal tax asset' (income tax receivable).
  3. “Properties in possession1” is an issuer-specific line, not mapped to a shared definition: Note 42; assets.
  4. “Loans and advances”: mapping to a shared definition is uncertain. Printed 'Loans and advances' (note 5), loans and advances to banks and customers net of impairment, one line.
  5. “Property, equipment and right-of-use assets”: mapping to a shared definition is uncertain. Property and equipment and right-of-use assets printed as one line.
  6. “Goodwill and other intangible assets”: mapping to a shared definition is uncertain. Goodwill and other intangible assets printed as one line.
  7. “Reserves” is an issuer-specific line, not mapped to a shared definition: Equity attributable to the ordinary shareholders: all reserves as one line.
  8. “Trading liabilities” is an issuer-specific line, not mapped to a shared definition: Note 12.
  9. “Deposits and current accounts”: mapping to a shared definition is uncertain. Printed 'Deposits and current accounts' (note 14): deposits from customers and banks, one line.
  10. “Debt securities issued” is an issuer-specific line, not mapped to a shared definition: Note 15; senior and subordinated debt.
  11. “Provisions and other liabilities”: mapping to a shared definition is uncertain. Provisions and other liabilities printed as one line.

Cash flow

Cash flow, NAD thousands. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Net cash flow generated from/(used in) operating activities1 2,301,109 (87,195)
Cash flows from operations1 1,429,311 1,356,237
Interest and commission receipts22 4,622,667 3,561,767
Interest payments3 (1,522,706) (952,923)
Recoveries on loans previously written off4 37,751 41,244
Cash payments to suppliers and employees5 (1,708,401) (1,293,851)
Net movement in operating assets and liabilities16 1,213,839 (1,271,187)
(Increase)/decrease in income-earning assets17 (1,758,287) (601,702)
Increase/(decrease) in deposits and other liabilities8 2,972,126 (669,485)
Direct taxation paid (342,041) (172,245)
Net cash flows used in investing activities (92,095) (69,814)
Capital expenditure on property and equipment (66,417) (50,196)
Proceeds from the sale of property and equipment 2,743 5,045
Capital expenditure on intangible assets (28,421) (24,663)
Net cash flows (used in)/from financing activities (774,578) 349,286
Principal element of lease payments (14,803) (17,813)
Senior debt redeemed9 (300,000) Not reported in this filing10
Dividends paid (459,775) (182,901)
Net increase/(decrease) in cash and cash equivalents1 1,434,436 192,277
Cash and cash equivalents at the beginning of the year 4,783,533 4,739,268
Effects of exchange rate changes on cash and cash equivalents 38,840 (148,012)
Cash and cash equivalents at the end of the year1 6,256,809 4,783,533
Senior debt issued11 Not reported in this filing12 400,000
Subordinated debt issued13 Not reported in this filing14 250,000
Subordinated debt redeemed15 Not reported in this filing16 (100,000)
Notes and alternative reported figures (16)
  1. “Cash flows from operations”: mapping to a shared definition is uncertain. Printed 'Cash flows from operations' (note 33.1): the subtotal of interest and commission receipts, interest payments, recoveries and cash payments to suppliers and employees, before working-capital movements (p38).
  2. “Interest and commission receipts2” is an issuer-specific line, not mapped to a shared definition: Component of cash flows from operations; includes interest received of N$3.3 billion (2022: N$2.3 billion), footnote 2.
  3. “Interest payments” is an issuer-specific line, not mapped to a shared definition: Component of cash flows from operations.
  4. “Recoveries on loans previously written off” is an issuer-specific line, not mapped to a shared definition: Note 30; component of cash flows from operations.
  5. “Cash payments to suppliers and employees” is an issuer-specific line, not mapped to a shared definition: Note 33.4; component of cash flows from operations.
  6. “Net movement in operating assets and liabilities1” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the two lines below it.
  7. “(Increase)/decrease in income-earning assets1” is an issuer-specific line, not mapped to a shared definition: Note 33.2.
  8. “Increase/(decrease) in deposits and other liabilities” is an issuer-specific line, not mapped to a shared definition: Note 33.3.
  9. “Senior debt redeemed” is an issuer-specific line, not mapped to a shared definition: Note 33.8; financing activities.
  10. Not reported in this filing: In the group statement of cash flows (p38), the line 'Senior debt redeemed' carries a 2023 amount only ((300 000)); the group 2022 column is blank (p38). Checked on the page image. The company columns are blank on this line as well.
  11. “Senior debt issued” is an issuer-specific line, not mapped to a shared definition: Note 33.8; financing activities.
  12. Not reported in this filing: In the group statement of cash flows (p38), the line 'Senior debt issued' carries a 2022 amount only (400 000); the group 2023 column is blank (p38). Checked on the page image. The company columns are blank on this line as well.
  13. “Subordinated debt issued” is an issuer-specific line, not mapped to a shared definition: Note 33.9; financing activities.
  14. Not reported in this filing: In the group statement of cash flows (p38), the line 'Subordinated debt issued' carries a 2022 amount only (250 000); the group 2023 column is blank (p38). Checked on the page image. The company columns are blank on this line as well.
  15. “Subordinated debt redeemed” is an issuer-specific line, not mapped to a shared definition: Note 33.9; financing activities.
  16. Not reported in this filing: In the group statement of cash flows (p38), the line 'Subordinated debt redeemed' carries a 2022 amount only ((100 000)); the group 2023 column is blank (p38). Checked on the page image. The company columns are blank on this line as well.

Per share and shares

Per share and shares. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Earnings / (loss) per share (per share)3 1.471 1.192
Profit / (loss) attributable to shareholders (NAD thousands)4 766,267 623,603
Weighted average shares (shares)5 522,472 thousand 522,472 thousand
  1. Printed as 147 cents; value converted to NAD at 100 cents = 1 NAD.
  2. Printed as 119 cents; value converted to NAD at 100 cents = 1 NAD.
Notes and alternative reported figures (3)
  1. Earnings / (loss) per share: printed as “Basic earnings per ordinary share (cents)”.
  2. Profit / (loss) attributable to shareholders: printed as “Attributable to ordinary shareholders”.
  3. Weighted average shares: printed as “Weighted average number of ordinary shares in issue ('000)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (459,775) NAD thousands Annual report, p38
31 Dec 2022 Dividends paid (cash flow statement) Dividends paid (182,901) NAD thousands Annual report, p38

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • SBN Holdings Limited Annual Financial Statements 2023

    Year ended 31 December 2023 · Annual report · signed / final

    Audit: PricewaterhouseCoopers (Namibia), unmodified opinion · signed

    Auditor's sign-off: PricewaterhouseCoopers, Registered Accountants and Auditors, Chartered Accountants (Namibia); Per: Hans Hashagen, Partner

    Final status: Report of the independent auditor to the members of SBN Holdings Limited (unmodified opinion, PDF p31) closes with the script firm signature 'PricewaterhouseCoopers' above 'Registered Accountants and Auditors, Chartered Accountants (Namibia), Per: Hans Hashagen, Partner, Windhoek, Namibia, Date: 12 March 2024' (PDF p34, render checked). The directors' responsibility and approval states the 2023 annual financial statements 'were approved by the board on 12 March 2024 and signed on its behalf by' Mr H Maier (Chairman) and Mr E Tjipuka (Chief executive), with handwritten signatures (PDF p31, render checked).

    Document date
    12 Mar 2024
    Auditor's report
    12 Mar 2024
    Board approval
    12 Mar 2024
    Retrieved by us
    17 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023, FY2022
    Basis
    consolidated statements · NAD thousands (printed “N$'000”)
    • Bank format: the statement of financial position is ordered by liquidity with no current / non-current split; total equity and total liabilities are printed above their components (p35). The income statement prints net interest income and non-interest revenue (net fee and commission revenue, trading revenue, other revenue, other gains on financial instruments) to total net income, then credit impairment charges, operating expenses, indirect taxation and direct taxation (p36). The income statement prints 'Basic and diluted earnings per ordinary share 147; 119' without a unit; note 38 prints it in cents (p67).
    • Cash and cash equivalents in the cash-flow statement (6 256 809; 2022: 4 783 533) are cash and balances with the central bank (1 675 382; 1 673 337) plus on-demand gross loans and advances to banks (4 581 427; 3 110 196) (note 33.10, p60); the cash-flow statement starts from 'Cash flows from operations', the subtotal of interest and commission receipts, interest payments, recoveries and payments to suppliers and employees (p38).
    • Only the Company 2022 cash-flow column is headed 'Restated' (N$36.2 million double-counted in Company cash and cash equivalents, footnote 1, p38); the Group columns are not restated. Properties in possession were moved above loans and advances on the face of the statement of financial position, 'no impact on the associated amounts' (footnote 1, p35).
    • The text layer of PDF p31 also carries the words of a separately paginated copy of the auditor's report ('financial statements set out on pages 3 to 125'), not visible on the render; the visible report refers to 'pages 65 to 183' of this document. The visible text is quoted.
    Technical details
    File
    98 pages, with a text layer
    SHA-256
    92eefe0ac1e64a8472007ba4cd4fb2e0220c6649ad37e15a7f3aafbd6653971a
    Entity as printed
    SBN Holdings Limited (the Company) and its subsidiaries (together the Group); registration number 2006/306, Republic of Namibia (PDF p31, p34)
    Issuer copy
    retrieved 2026-10-17T13:55:00Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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