FirstRand expects FY earnings to rise by at least 20%

JSE-listed FirstRand Limited expects its earnings for the year ended June 30, 2021 to increase by at least 20% as it sees continued growth in borrowings and stronger momentum in corporate activity, it said in a trading statement. Th financial services provider on Friday said it expects its headline earnings per share to increase from 480.5 cents to 576.6 cents and earnings per share to rise from 476.9 cents to 572.2 cents.

” Read: All the FNB pricing, eBucks changes from July SA revamps processes for managing distressed banks Providing an update on its operation in the United Kingdom, the group reports that it has seen further growth in the vehicle asset finance business, as well as a growth in mortgages and asset finance. “Activity levels in the domestic retail, commercial and corporate customer segments have increased, with fee and commission income in particular showing a higher growth trajectory.

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