LATEST NEWS FOR FirstRand Ltd.  

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Why RMB Holdings is down over 90%

UPDATE
24 Jun 2020 /  Moneyweb Reporter   6
…And what’s left?

SA’s bad debts may hit highest ever level of 10% due to virus

18 Jun 2020 /  Emma Rumney, Reuters   1
Banks expected to have sufficient capital to handle hit.

How much SAA owes the banks and other creditors

18 Jun 2020 /  Hilton Tarrant   31
And which banks? Two in SA have exposure totalling R5.2bn …

SA hopes to ease access to Covid loans amid low payouts

15 Jun 2020 /  Emma Rumney, Reuters   1
Changes include tweaks to turnover threshold, payment holidays.

How much Edcon owes, and to whom

11 Jun 2020 /  Hilton Tarrant   18
Banks, landlords, insurers (who are landlords) in the queue.

SA banks at risk of deepest profit slump in 50 years

8 Jun 2020 /  Roxanne Henderson, Bloomberg    18
As lockdown measures lead to a surge in bad debts.

The more things change, the more they stay the same

8 Jun 2020 /  Ann Crotty   4
Earnings differences amplified by virus and apparent indifference noted – a look at Trencor, Tongaat, Capitec and others.

FirstRand warns of over 20% profit fall

UPDATE
4 Jun 2020 /  Emma Rumney, Reuters  
Due to a spike in bad debts and falling revenues.

Rand strengthens to below R17/$, pandemic investment opportunities and battle of the banks

4 Jun 2020 /  Simon Brown   
Mia Kruger of Kruger International on dollar investments with a stronger rand, Sasfin Securities's Nick Dakin on finding investment opportunities during the pandemic and Victor Mupunga of Old Mutual talks competition between the banks and how it differs from 2008.

Farmers turn to commercial banks as Land Bank stalls

4 Jun 2020 /  Roxanne Henderson, Bloomberg    7
Trouble at state-owned lender deals another blow for SA's farming sector.

Banks told to cut lending rates in SA

2 Jun 2020 /  Vernon Wessels, Bloomberg   9
'We want banks to lend more than they would otherwise lend, but we don’t want them to be reckless and take excessive credit risk.'

RMB confirms Total’s $15 bn funding for Mozambique LNG project

28 May 2020 /  Helen Reid, Reuters  
Total concluded the acquisition of Anadarko's 26.5% interest in the Mozambique LNG project for $3.9 billion in September.

Bankers staying home as SA slowly grinds back to work

UPDATE
24 May 2020 /  Vernon Wessels, Roxanne Henderson and Janice Kew, Bloomberg   5
'The psychological toll on people has been significant' - Investec CEO Fani Titi.

RMB named as financial advisor for Land Bank

14 May 2020 /  Antony Sguazzin, Loni Prinsloo and Roxanne Henderson, Bloomberg   
Rand Merchant Bank has been tasked with coming up with cash-flow projections for the beleaguered SOE.

R100bn Covid-19 loan scheme now operational

12 May 2020 /  Larry Claasen   7
A partnership between Treasury, Sarb and banks aimed at saving SMEs.

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