FirstRand Ltd Reports 10% Increase in First-Half Earnings
FirstRand Ltd reported a 10% rise in first-half earnings, reaching 20.9 billion rand. The bank attributed this growth to stronger credit performance and declared an interim dividend of 219 cents per share, increasing from 200 cents the previous year.
FirstRand Ltd, a prominent South African lender, announced a 10% increase in its first-half earnings, attributed to improved credit performance. The bank’s normalized earnings reached 20.9 billion rand (approximately $1.14 billion) for the six months concluded on December 31, compared to 19.1 billion rand in the same period the previous year.
In addition to its domestic operations, FirstRand has a presence in various sub-Saharan African markets and the United Kingdom. The financial institution also revealed an increase in its interim dividend, raising it to 219 cents per share, up from 200 cents declared a year earlier. This reflects the bank’s growing financial strength and commitment to returning value to its shareholders.
In summary, FirstRand Ltd has achieved a noteworthy 10% increase in earnings driven by robust credit performance. The bank plans to further reward its shareholders with a higher interim dividend, demonstrating a solid financial position and growth across its markets.
Original Source: money.usnews.com
