News Formal

RMB Holdings says earnings grew in line with FirstRand’s

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

FNB gains help earnings grow 7% to R4.4bn despite ‘significant turbulence’ in the macroeconomic environment

RMB Holdings, which owns 34% of FirstRand and a property portfolio worth about R1bn, said on Thursday normalised earnings in the six months ended December 2018 grew 7% to R4.4bn despite “significant turbulence” in the macroeconomic environment.

The group, which is the 16th-largest constituent of the JSE’s top-40 index and is headed by Herman Bosman, raised its dividend 6% to 178c a share. FirstRand reported on Tuesday that its normalised earnings in the six months to end-December 2018 rose 7% to R13.3bn, thanks largely to gains from FNB. Its portfolio also houses Rand Merchant Bank and WesBank.

RMB Holdings said on Thursday its property business increased its net intrinsic value from R722m to R971m during the period, and contributed normalised profit of R15m, from a loss of R15m a year before.“Headwinds include a slowing global economy, Eskom — and other state-owned entities — challenges, adverse domestic weather conditions in the western maize-growing areas of the country, prolonged strike activity in the gold mining sector and political uncertainty leading into the national election.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

FirstRand ‘not fazed’ by newcomers entering the banking market | IOL Business ReportFirstRand comprises of First National Bank (FNB), Rand Merchant Bank (RMB), WesBank and UK specialist lender Aldermore.
Källa: IOL - 🏆 46. / 51 Läs mer »

FNB boosts FirstRand’s earningsThe company says RMB’s portfolio delivered high-quality earnings from its domestic and rest-of-Africa activities, while WesBank remained resilient despite low vehicle sales
Källa: BDliveSA - 🏆 12. / 63 Läs mer »

FirstRand ‘not fazed’ by newcomers entering the banking market | IOL Business ReportFirstRand comprises of First National Bank (FNB), Rand Merchant Bank (RMB), WesBank and UK specialist lender Aldermore.
Källa: IOL - 🏆 46. / 51 Läs mer »

Absa 2018 earnings rise 3% to R16.1 billionThe group also increased gross loans to customers by 13%.
Källa: TheCitizen_News - 🏆 6. / 75 Läs mer »