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Top related persons:
Promit Mukherjee - 2 FirstRand - 1 Jane Merriman - 1 Kenny Fihla - 1 TotalEnergies - 1 Filha - 1 Anait Miridzhanian - 1 Emelia - 1
Top related locs:
JOHANNESBURG South Africa Mozambique
Top related orgs:
Standard Bank - 2 Thomson - 2 Corporate - 1 Investment Banking - 1 Bank - 1 Oil Pipeline - 1 Absa - 1

Search resuls for: "FirstRand"


3 mentions found


☆ South African bank FirstRand sees bad loan ratio below target range
  + stars: | 2023-06-21 | by ( ) www.reuters.com   time to read: +1 min
JOHANNESBURG, June 21 (Reuters) - FirstRand (FSRJ.J), South Africa's biggest bank by market value, said on Wednesday its non-performing loan ratio would stay below its target range as it maintains its conservative lending stance. South Africa has some of the continent's biggest banks, which have built up a reputation for conservative lending policies. Africa's biggest lender by assets Standard Bank (SBKJ.J) and major local lender Nedbank (NEDJ.J) have said that their bad loans would rise this year. But FirstRand said its credit loss ratio (CLR) for the year would remain below its stated range. Its return on equity - a measure of bank profitability - is expected to remain at the upper end of the stated range of 18% to 22%, FirstRand said.
Persons: FirstRand, Promit Mukherjee, Jane Merriman Organizations: Standard Bank, Thomson Locations: JOHANNESBURG, South Africa
☆ South Africa's Standard Bank says it exceeds 2022 green financing target
  + stars: | 2023-05-30 | by ( ) www.reuters.com   time to read: +2 min
JOHANNESBURG, May 30 (Reuters) - South Africa's Standard Bank Group (SBKJ.J) funded renewable energy projects worth 55 billion rand ($2.79 billion) in 2022, exceeding its green financing target and putting it ahead of the world's top lenders, it said on Tuesday. Africa's biggest lender by assets earmarked 40 billion rand for sustainable projects last year, Kenny Fihla, its chief executive for Corporate and Investment Banking, said in slides prepared for journalists. However, in October he pegged that target at 50 billion rand. Standard Bank has been regularly criticised by environmental advocates and activist investors for funding climate-polluting hydrocarbon assets on the continent. "Our financing of renewable energy is 439% greater than our financing of non-renewable energy," Filha said, adding this achievement was significant when compared with the world's largest financiers.
Persons: Kenny Fihla, TotalEnergies, Filha, Anait Miridzhanian, Promit Mukherjee, Emelia Organizations: Standard Bank, Corporate, Investment Banking, Bank, Oil Pipeline, Absa, Thomson Locations: JOHANNESBURG, Mozambique, South Africa
☆ Exclusive: Britain's Co-op Bank weighs options including sale, IPO –sources
  + stars: | 2023-04-14 | by ( Pablo Mayo Cerqueiro Amy-Jo Crowley Andres Gonzalez | Pablo Mayo Cerqueiro | Amy-Jo Crowley | ) www.reuters.com   time to read: +3 min
In addition to mergers and acquisitions, the options include a sale of the bank and an initial public offering (IPO), the people said. Officials for Co-op Bank, Aldermore, OneSavings Bank, Paragon and Shawbrook declined to comment. Co-op Bank had an equity value of close to 1.3 billion pounds ($1.61 billion) as of the end of December, based on its latest annual accounts. It had more than 28 billion pounds of assets on its balance sheet and reported a profit before tax of 132.6 million pounds for 2022. Later that year, Co-op Bank made an offer for domestic rival TSB Group, which was rejected by Spanish parent Banco Sabadell (SABE.MC).
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