Reported 3 days ago
South African lender FirstRand Ltd anticipates marginally higher earnings in the second half of the fiscal year compared to the 10% growth seen in the first half, despite a forecasted decline in net interest income due to falling interest rates. The bank's normalized earnings for the first half rose to 20.9 billion rand, driven by growth in lending and deposits, with improving credit performance and effective cost management. Additionally, FirstRand is monitoring developments in the U.K. Supreme Court and FCA investigations which may impact future provisions.
Source: YAHOO