Rand Merchant Bank Holdings (RMB) on Friday announced a 6% increase in normalised earnings to R6.88bn in the six months to end-December from the year-earlier period The financial services holding company, whose largest investment is its 34% stake in FirstRand, declared an interim dividend of R1.53 per share, which was up 8% on the previous period. In 2016, RMB announced the expansion of its investment strategy to include a property investment business alongside its investment in FirstRand. This involved establishing a diversified portfolio of businesses with proven track records in managing and building property portfolios. RMB acquired 40% of Genesis Properties during the period under review.
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