FirstRand Ltd reported a 10% rise in first-half earnings due to strong credit performance, with normalized earnings reaching 20.9 billion rand. The bank declared an interim dividend of 219 cents per share, up from 200 cents. This growth demonstrates FirstRand’s solid financial positioning in South Africa and other markets.
FirstRand Ltd, a prominent South African lender, reported a 10% increase in its first-half earnings, primarily driven by enhanced credit performance. The bank’s normalized earnings climbed to 20.9 billion rand (approximately $1.14 billion) for the six months ending December 31, compared to 19.1 billion rand in the same period last year. Furthermore, FirstRand, which has operations in sub-Saharan Africa as well as the UK, announced an interim dividend of 219 cents per share, an increase from 200 cents a year prior.
FirstRand’s financial results reflect a positive upward trend with a 10% increase in earnings attributed to stronger credit performance. The rise in normalized earnings and the increased interim dividend indicate the bank’s solid performance in the market, further bolstered by its operations beyond South Africa.
Original Source: money.usnews.com
