FINANCIAL SECTOR
FirstRand profit guidance signals how banks are coping
Bank says for the first four months of the period — to end-October — revenue growth was ‘more resilient’ than initial expectations
26 November 2020 - 23:25
FirstRand, SA’s largest financial conglomerate by market capitalisation, expects that the effects of the severe lockdown will dent earnings by as much as a quarter for the six months ending December, it said on Thursday.
It expects earnings to decline by between 20% and 25% for the interim period versus the same period a year ago. This should see the group generate headline earnings per share of between R1.87 and R1.99...
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