FirstRand Ltd reports a 10% increase in first-half earnings, reaching 20.9 billion rand ($1.14 billion). The increase is attributed to improved credit performance. The bank declared an interim dividend of 219 cents per share compared to 200 cents the previous year.
FirstRand Ltd, a prominent South African lender, reported a 10% increase in its first-half earnings, bolstered by improved credit performance. According to the bank, its normalised earnings reached 20.9 billion rand (approximately $1.14 billion) for the six months concluding on December 31, an increase from 19.1 billion rand during the same period the previous year.
The bank, which has operations in various markets, including sub-Saharan Africa and the United Kingdom, also announced an interim dividend of 219 cents per share, compared to 200 cents a year prior. This reflects the institution’s robust financial health and commitment to returning value to shareholders.
The exchange rate is noted as being $1 equivalent to 18.3016 rand, providing context for international stakeholders observing FirstRand’s financial performance.
In summary, FirstRand Ltd has demonstrated significant growth in its financial performance, highlighting a 10% increase in earnings and a higher interim dividend. The bank’s ability to navigate market challenges and improve credit performance will be vital as it continues to expand its operations both domestically and internationally.
Original Source: money.usnews.com
