South African lender Capitec said on Tuesday it would not pay a dividend for its full year, although profits rose by 19%, in line with guidance from the country’s central bank to scrap payouts amid the coronavirus outbreak.
FirstRand is faring better than rivals Standard Bank and Nedbank. The big-four bank reported a 5 per cent rise in normalised half-year profits, lifting its shares even as it warned the impact of a rapidly deteriorating economy in South Africa was becoming evident across its customer base. In this CNBC Africa special Kopano Gumbi spoke to FirstRand CEO Alan Pullinger about beating the odds....
Remgro has released its interim results. The investment group which owns stakes in eMedia, FirstRand, MediClinic and Distell said diluted headline earnings per share fell over 3 per cent to 744 cents while dividends grew 5 per cent to 215 cents. CNBC Africa is joined by Neville Williams, CFO, Remgro.
This week marks the 10th anniversary of the collapse of Lehman Brothers, an event that set in motion the global financial crisis. South African banks weathered the financial storm a lot better than their global peers. CNBC Africa’s Fifi Peters spoke with former FirstRand CEO, Sizwe Nxasana about why this was the case. She also asked him what FirstRand needed to do to stay afloat during the global financial meltdown.
What FirstRand will do if Billionaire Wiese, Steinhoff shown to be corrupt
What a hard Brexit would mean for FirstRand’s UK deal with Aldermore
A South African court denied on Friday an application by former finance minister Pravin Gordhan for an order that would block the ministry from any involvement in a dispute between banks and...
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