Page 19 - First Rand News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 company also declared a dividend of 2.40 rand ($0.16) per share, after the South African regulator la...

'New banking talent welcome' FirstRand's 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 SA's banking market "will keep us on our toes and keep us innovating", says one of SA's 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 - haven't yet gained incredible momentum and are still dealing with teething problems, but FNB is watching them closely... This article is reserved for S...

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 - stood at 198.9 cents in the six months to Dec. 31, compared to 249.4 cents a year earlier. ($1 = 15.0729...

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 RBI's 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 Friday. Bond yields have seen an upward bias as investor appetite has been low despite the Reserve Ba...

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