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Abil announces latest results, name change update

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Cape Town - African Bank Investments (Abil) reported a net profit after tax of R491m for the year ended 30 September 2016.

Headline earnings per share for 2016 were 34 cents compared to 85.7c for 2015.

It said on Wednesday the significant change in earnings was mainly due to Standard General Insurance Company (Stangen), the group's 100% owned operating subsidiary, exiting its relationship with African Bank Limited, effective 1 April 2016.

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