FirstRand’s lending only to low- and medium-risk clients is paying off
Bad debts have been steadier than some of its competitors through the heights of the interest rate cycle
07 March 2025 - 05:00
FirstRand has seen its steady-as-she-goes lending strategy pay off, as its focus on lending only to low and medium risk customers in retail and commercial banking pays off in a market that remains difficult despite interest rate cuts.
But CEO Mary Vilakazi says it has been sympathetic to charges that SA’s banks don’t do enough lending to small and medium enterprises and it has started working with development finance institutions to enable it to lend to businesses that may not have the collateral or regular cash flows the bank would typically require...
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