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
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...