firstrand results announcement 2020
“The possibility of a third wave heading into winter, with mini-lockdowns, and the extended time frame associated with reaching the target level of vaccinations, requires us to assume a cautious outlook. RMH previously presented results on a normalised basis as a direct result of its investment in FirstRand. The business achieved excellent growth in deposits, with lending book growth mainly driven by MotoNovo. FIRSTRAND LIMITED - Provisional audited results for the year ended 30 June 2020. FirstRand Limited, the financial services group comprising FNB, RMB, WesBank and Aldermore, today announced its results for the six months to 31 December 2020. FirstRand is the first of South Africa’s big four banks to issue a payout and follows a surprise first-half dividend announcement by smaller Investec in November. FirstRand’s contract with society Social investing. The Government took drastic RMH shareholders are referred to the FirstRand website www.firstrand.co.za for the financial results of FirstRand for the year ended 30 June 2020, which were released on 10 September 2020. 2020. If you are doing a word search, double check your spelling. Lower … 3. ‡ Denotes Alternative Performance Measures (APMs) and further information can be found in the "Other information" section of the full year 2020 preliminary results announcement. 08:30. Speed and level of recovery in earnings and ROE has exceeded initial expectations. Concurrently with Remgro’s It will result in shareholders holding a direct interest in FirstRand, rather than holding that interest through RMH. 12.9% ROE. RMB delivered a robust operational performance, mainly driven by excellent performances from its domestic markets business and rest of Africa activities. FirstRand has posted its interim results for the six months ending 31 December 2020. FirstRand results SENS announcement – June 2020 FirstRand results media release FirstRand analysis of financial results – June 2019 The performance of the UK operations, which include both Aldermore and MotoNovo, was pleasing. results of extraordinary general meeting Brait shareholders (“Shareholders“) are referred to the announcements released by Brait on SENS and published on the website of the Luxembourg Stock Exchange on 27 November 2019 relating to the proposed Recapitalisation of Brait (the “Recapitalisation Announcement”) and on 4 December 2019 relating As the visibility in the recovery improves and confidence lifts, the group is in a strong position, both from a portfolio and capital perspective, to pursue balance sheet growth. Pro-forma CER growth rates are calculated as if the “The level and speed of improvement in the group’s performance is testament to the quality of FirstRand’s portfolio and the strength of its customer franchises.”. Had the unbundling occurred at last Thursday's closing prices for both companies on the JSE, it said it would have represented a value unlock of R3.83 per share FirstRand expects full-year earnings to fall 20% due to Covid-19 Fallout from the coronavirus and its lockdown has spurred a jump in the bank’s impairments 04 June 2020 - 15:49 Vernon Wessels FIRSTRAND LIMITED - Further trading statement in respect of the year ended June 2020. FIRSTRAND LIMITED – Unaudited interim results and cash dividend declaration for the six months ended 31 December 2020 03.03.21 17:03 FRS256 – Listing of New Financial Instrument What about our booze and tobacco! ... Financial results Integrated reporting. Moneyweb requires cookies to function properly. As set out in the prospects section of FirstRand’s results announcement for the year ended June 2020, the group expected its earnings for the six months to December 2020 (a post-COVID period) compared to the six months to December 2019 (a pre-COVID period) to be impacted given the base effect. FirstRand has reintroduced its dividend after it recovered faster than expected from the depth of the Covid-19 pandemic. commentary included on the performance of FirstRand. 12/08/2020. This feature is now exclusively available to. FNB’s performance reflects the strength of its digital platforms, given that it was able to fulfil origination, account service and liability gathering digitally. However, several sectors are expected to remain challenged for much of 2021 and the full effects of the adjusted level 3 lockdowns are yet to be felt. Audited Group Financial Results FOR THE YEAR ENDED 30 JUNE 2020 CASH ON HAND R317 m REVENUE +4 B-BBEE Level 1 Introduction On 11 March 2020, the World Health Organisation officially declared COVID‑19 a pandemic, resulting in the South African Government declaring a state of national disaster on 15 March 2020. A final dividend per ordinary share of 50c was declared, 57% lower than the 117c of 2019. Deposits continued to grow strongly, and the premium and commercial segments benefited from active customer growth. * Reported AER and CER growth rates for 2020 include five months’ results of the former Pfizer consumer healthcare business in 2019. “As an update to previous year-end guidance, we do now expect full year endings to June 2021 to exceed those of the previous year. The broker’s dilemma: Courts lambaste non-life insures for business interruption shortcomings, Leading experts warn the world about the dangers ahead, The world of work 2021… smarter, faster, simpler, Trends that will shape the life insurance industry going forward, FirstRand establishes SPIRE: The South African Pandemic Intervention and Relief Effort, FirstRand delivers resilient earnings and dividend growth, and superior ROE, FirstRand delivers quality earnings growth and superior ROE, FirstRand today reported results for year ended 30 June 2018, FirstRand unlocks R3bn of value for its shareholders through the disposal of its interest in Discovery Card and Discovery Bank, FirstRand delivers high quality topline, earnings and dividend growth and an ROE above its target range, FirstRand delivers high roe, resilient earnings and strong dividend growth, FirstRand delivers real growth and premium returns to its shareholders, Statutory Bodies / Regulatory / Ombudsman, Certainly taxpayer-friendly, with tax increases being kept to a minimum, Realistic and in accordance with my expectation, Is welcomed news and will go a long way to bolster the economy and South Africa, I have mixed feelings… cutbacks and reprioritisations in government spending pose a significant risk and will come at a cost, Oh no! Year-end results May 2020 documents. FNA VS Compliance: Advisers still tripping up on section 8(1) of the Code! The ratio of NPLs to gross advances ended the period at 4.4%, up from 2.7% in 2019. q38% Interim dividend: 146 cents (p5%) Final dividend: – (100%) In line with regulatory guidance to preserve capital. Year-on-year performance reflects a pre-pandemic comparative period (the six months to 31 December 2019) and, given the profound difference in operating environments the group’s normalised earnings decreased 21%. 2020. 15:44. Although first-half earnings are down from a … Motor insurers take note: Replacement parts cannot compromise an insured’s safety! FirstRand results SENS announcement – June 2020 FirstRand results media release SASOL LIMITED - Interim results announcement for the six months ended 31 December 2020: 22/02/2021 : 07:05 : ANGLOGOLD ASHANTI LIMITED - Preliminary results for the six months ended 31 December 2020: 19/02/2021 : 17:42 : ABSA BANK LIMITED - New Financial Instruments Listing - ASN567 & ASN570: 19/02/2021 : 17:00 RMB Holdings (RMH) is going ahead with the unbundling of its 34% stake in banking group FirstRand in a move it says will unlock about R5.41bn in value for shareholders. RESULTS PRESENTATION. NEWFUNDS COLLECTIVE INVESTMENT SCHEME - Interest Distribution And Re-Investment Announcement For The Month Ended 31 January 2021 - NFILBI: 11/02/2021 : 07:30 : ARB HOLDINGS LIMITED - Unaudited interim results for the six months ended 31 December 2020: 11/02/2021 : 07:30 : THE STANDARD BANK OF SOUTH AFRICA LIMITED - Amendment Announcement - SSN106? FirstRand Limited, the financial services group comprising FNB, RMB, WesBank and Aldermore, today announced its results for the six months to 31 December 2020. The group, which owns First National Bank (FNB), RMB and WesBank, reported a … FirstGroup plc half-yearly results for the six months to 30 September 2020; AGM trading update; FirstGroup plc full year results for the 12 months to 31 March 2020; 2020 Winter trading update; 2019. The performances of FirstRand’s underlying businesses were driven by operational resilience and the validation of certain ongoing strategies, evident in the pre-provision operating profit which showed only a marginal decrease of 1%. Whilst the first six months of the financial year showed a rebound in economic activity compared to the preceding six months to June 2020, FirstRand believes the domestic operating environment remains challenging, particularly given the risk of a third wave heading into winter and the projected timing of vaccinating the targeted level of the population. Excluding the April 2020 lockdown, HEPS and diluted HEPS grew 5.9% and 6.0% respectively. Footnotes: # Symbol denotes key financial performance indicators used as a base to determine or modify remuneration. The group’s results reflect deliberate strategies to strengthen the balance sheet and emerge from the COVID-19 pandemic in a fortified position. This was achieved despite the significant endowment impact from 300 bps of policy rate cuts since December 2019. You can get more information about how we use cookies in our The calculations are based on the following assumptions: • RMH and FirstRand closing share prices of R52.77 and R40.61 respectively; and • RMH has disposed of 58,436,763 FirstRand Disposal Shares at a volume weighted average price per FirstRand Share of R39.17. In addition, the group remains conservatively provided, with provisions built up further since June 2020. teller, consultant). The transaction will end a 27-year association between the two companies, leaving RMH with a portfolio of property development assets in SA and Eastern Europe. However, due to the points just covered, we are guiding that the level of earnings for the first half are not likely to be repeated in the second half to June 2021.”, KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATION. 16:00. for the year ended 30 June. This announcement contains inside information. 10/09/2020. Thursday, 9 April 2020. Try searching with one filter at a time. Announcements Presentations ... Investec plc Rand denominated preference share dividend announcement PDF (72.03 KB) Presentations Investec 2019 Results Presentation PDF … Post Year End Trading update – 1 April to 20 June 2020 FIRSTRAND LIMITED - Change in important function of directors: Chairman of remuneration committee. 02| FIRSTRAND GROUP Overview of results. This was underpinned by sustained annuity income growth, strong core deposit growth, a principal investment realisation and improved operating leverage. Terms of use. Over the past six months, FirstRand accreted capital and strengthened its balance sheet, enabling the group to declare an interim dividend. Speed and level of recovery in earnings and ROE has exceeded initial expectations. The normalised ROE reduced from 21.2% to 15.6%. Investec Year End Results 2020 Viewing and listening options Date: Thursday 21 May. ... Interim results for the six months ended 31 December 2020 4 March 2021 Financial results for the year ending 30 June 2021 9 September 2021 ... 2020 annual general meeting 1 Operating profit represents Group adjusted operating profit which is a non-GAAP APM. News Service (SENS) on 26 March 2020, the group reported sales growth of 8.6% in the ˜rst two weeks of March 2020, however in the last two weeks, following the announcement of the national lockdown on 15 March 2020, sales growth declined 32.9% as consumers prioritised essential items. FirstRand Limited is one of the largest financial institutions in Africa with a market capitalisation of CHF 10.7 billion as of 22 April 2020. Search Tips. “Looking ahead to our year end in June 2021, we expect a continued recovery as the SA economy gradually opens further. Most of this decline was due to the elevated credit impairment charge, materially lower endowment given cuts in policy rates, and lower levels of transactional activity and credit origination. News Service (“SENS”) on 19 November 2019, 7 January 2020 and 18 February 2020 relating, inter alia, to the in-principle decision by Remgro to pursue the distribution, in full or in part, of its shareholding in RMH and FirstRand Limited (“FirstRand”) to Remgro Shareholders. It was 'a decision that would typically be taken by a CEO in my position' says former head of Transnet. FirstGroup plc half-yearly results for the six months to 30 September 2019 Year-on-year performance reflects a pre-pandemic comparative period (the six months to 31 December 2019) and, given the profound … FirstRand’s headline earnings per share – the main profit measure in South Africa – fell 38% to 308.9 cents in the year to June 30, compared to 497.2 cents reported a year earlier. In results released on the Namibian Stock Exchange (NSX) this morning, FirstRand Namibia reported headline earnings per share (HEPS) – a profit gauge – of 331.8c, a drop of 19% compared to the 2019 book-year. Sens announcement for FIRSTRAND LIMITED – Provisional audited results for the year ended 30 June 2020 - SENS WesBank’s pre-provision operating profit was affected by lower production levels (new business declined 21%), which resulted in a 6% reduction in advances, however, the business continued to extract efficiencies resulting in costs decreasing 2%. Try using single words (e.g. About FirstRand Firstrand philosophy Portfolio Ownership and legal structure Management and board Presence in African region and other markets Transformation and B-BBEE credentials. The group was prudent on origination and focused on assisting customers manage their existing debt load rather than pursue new balance sheet growth. Higher sin taxes. FirstRand Namibia’s non-performing loans (NPLs) at the end of June 2020 stood at N$1.369 billion, up N$524 million or 62% from its 2019 book-year. overview of results. By continuing to use our website, we assume you are okay with it. Unaudited interim results and cash dividend declaration for the six months ended 31 December 2020 FIRSTRAND LIMITED (Incorporated in the Republic of South Africa) Registration number: 1966/010753/06 JSE ordinary share code: FSR; ISIN code: ZAE000066304 JSE B preference share code: FSRP; ISIN code: ZAE000060141 NSX ordinary share code: FST LEI: 529900XYOP8CUZU7R671 … Regulatory announcements; Reports and presentations. 10 September 2020: FIRSTRAND LIMITED - Change in important function of directors: … For the 26 weeks ended 26 September 2020, basic earnings per share decreased 34.5% to 290.5c, headline earnings per share (HEPS) decreased by 24.8% to 333.5 cents and diluted headline earnings per share decreased by 24.6% to 328.5 cents. 11/02/2021 SENS announcement for JSE listed company: FSR, Economy probably contracted by 7% last year, Santam sees up to R5.3bn in business interruption insurance claims, Molefe and the R78m 'success fee' paid to Regiments, How to fund your business in South Africa, Nedbank and Xero encourage small businesses to embrace a new way to connect. Commenting on the results, Alan Pullinger, FirstRand CEO, said: “Since June 2020, earnings have recovered faster than expected, driven by a better than anticipated rebound in the economy, which has supported transactional volumes, growth in deposit balances and an improved credit experience. However, when comparing the six months to 31 December 2020 to the preceding six months to June 2020 (a period which included the first three months of the lockdown restrictions introduced in March 2020) there are indications of a positive rebound in performance.