Page 10 - First Rand News Today

Standard Bank reports 51% profit decline By Roxanne Henderson (Bloomberg) – Standard Bank Group Ltd. said any economic recovery from the Covid-19 pandemic in Africa would likely take until late this year or even 2022, warning of the long wait ahead for lenders struck by a slump in borrowing and spending. The continent’s largest bank reported a 51% decline in profit after taxes and other adjustments for the year through December, according to a statement on Thursday. The Johannesburg-based c...

New banking talent welcome FirstRands normalised earnings decreased 21% for the six months compared to the same period in the previous year 07 March 2021 - 00:09 The new competitors in SAs banking market "will keep us on our toes and keep us innovating", says one of SAs oldest and largest retail banks. FNB CEO Jacques Celliers said new players such as Tyme Bank and Discovery Bank - both of which launched in the past two years - havent yet gained incredible momentum and are still deal...

By Reuters Staff 1 Min Read The logos of companies Rand Merchant Bank, FNB, and Wesbank are seen outside the FirstRand offices in Cape Town, South Africa, file. REUTERS/Mike Hutchings JOHANNESBURG (Reuters) - South African lender FirstRand reported a 20% decline in half-year profit - at the bottom end of its forecast range - and restored its dividend, paying out 110 cents ($0.0730) per share to investors. The bank’s headline earnings per share - the main profit measure in South Africa - stoo...

India bond yields surge, market expects more RBI intervention Photo: iStockPremium Swati Bhat , Reuters Bond yields have seen an upward bias as investor appetite has been low despite the RBIs assurance that it would provide ample liquidity and ensure a smooth government borrowing programme Share Via Read Full Story MUMBAI : Indian bond yields surged on Monday, tracking a rise in US Treasury yields and as underwriters sold off bonds in the open market they were forced to buy at an auction on Fr...

'SA’s banking regulator eased guidance to lenders that they shouldn’t pay dividends and executive bonuses', reports Bloomberg.

Bond Yields Surge, Market Expects More RBI Intervention Bond Yields Surge, Market Expects More RBI Intervention The benchmark 5-year bond yield was trading at 5.77, after rising to 5.82 per cent, its highest since April 16. Updated: February 22, 2021 3:24 pm IST Indian bond yields surged on Monday, tracking a rise in US Treasury yields and as underwriters sold off bonds in the open market they were forced to buy at an auction on Friday. Bond yields have seen an upward bias as investor appet...

Blog Blog Blog Blog 17 Feb, 2021 Author Matt Smith South Africas major banks need to improve transparency around their financing of fossil fuel industries, according to industry observers, who describe the current disclosures as "trivial" and "not meaningful." Environmental, social and governance issues were key features of President Cyril Ramaphosas state of the nation address in the week of Feb. 8, in which he outlined plans for a "just transition ...

South Africa's banking sector stocks are cheap and the future looks positive for the big four, according to US lender JPMorgan.

Explained | Why RBI is buying bonds worth Rs 20,000 crore and other questions answered The RBI needs to keep the bond market happy and yields within a limit so that the government’s Rs 12.06 lakh crore borrowing plan has a smooth run. February 08, 2021 / 06:57 PM IST The Reserve Bank of India will on February 10 purchase government securities under an open market operation (OMO) for Rs 20,000 crore, the central bank said on February 8 as it looked to calm the bond market. The announcemen...

While the central government plans to raise capital expenditure by 26 per cent in the upcoming year, current spending to cover establishment expenses, welfare schemes and interest payments is set to fall 2.7 per cent to Rs 29.3 trillion in 2021-22, from Rs 30.1 trillion in FY21. What could be worrisome is that revenue expenditure would fall 8.6 per cent in FY22 if we exclude interest payments, which go into servicing outstanding debt, Budget documents show. The continuing fiscal stimulus is ...