FirstRand Ltd reported a 10% rise in first-half earnings, reaching 20.9 billion rand, attributed to strong credit performance. The bank also increased its interim dividend to 219 cents per share from 200 cents.
FirstRand Ltd, a leading lender in South Africa, announced a 10% increase in its earnings for the first half of the financial year, driven by robust credit performance. The bank’s normalized earnings reached 20.9 billion rand (approximately $1.14 billion) for the period ending December 31, compared to 19.1 billion rand during the same timeframe last year.
In addition to its operational success, FirstRand declared an interim dividend of 219 cents per share, reflecting an improvement from the 200 cents per share distributed a year prior. This positive financial result underscores FirstRand’s continuing growth trajectory in its operations within South Africa and select markets in sub-Saharan Africa and the United Kingdom.
FirstRand Ltd’s recent report highlights a significant growth in earnings, attributed to improved credit performance. With normalized earnings escalating to 20.9 billion rand and an increased interim dividend, the bank is poised for further success in its domestic and international markets. This performance reaffirms FirstRand’s competitive position within the sectors it serves.
Original Source: money.usnews.com
