BANKING
FirstRand profit adds to signals of faster recovery
The banking group predicts headline earnings per share will rise more than a third as consumers lead the charge
07 June 2021 - 10:55
UPDATED 08 June 2021 - 00:13
In further confirmation of a faster-than-forecast economic recovery, FirstRand flagged a rise in annual profit of more than a third as it let out billions of rand in reserves set aside to cover pandemic-induced bad loans.
FirstRand expects headline earnings per share — the main profit measure in SA, which excludes certain one-off items — to rise at least 35% in its year to the end of June, from 308.9c previously...
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