FirstRand flags modest earnings as it raises provision for UK car loans probe

  • 📰 News24
  • ⏱ Reading Time:
  • 31 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 80%

Aldermore أخبار

Earnings Guidance

FirstRand flags modest earnings as it raises provision for UK car loans probe

FirstRand has advised shareholders to expect a modest rise in annual earnings after it was forced to raise an accounting provision to cover its UK-based vehicle finance business, which could be impacted by an industry-wide probe in that country.

The group, which owns FNB, RMB and Westbank locally, said in a trading update on Thursday that a vehicle finance commission by the UK's Financial Conduct Authority had forced it to raise a provision in case its Cardiff-based financier MotoNovo is impacted. The UK probe involves the historical use of discretionary commission arrangements and sales by lenders in the UK motor finance market, with the next steps set to be outlined by FCA at the end of September.

This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 4. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Woolies share price slides as it flags earnings dropLargely due to the once-off benefit from the sale of its David Jones business in Australia during the last financial year.
مصدر: Moneyweb - 🏆 5. / 77 اقرأ أكثر »