FirstRand Limited is a publicly registered bank controlling holding company listed on the Johannesburg Stock Exchange (JSE) that is engaged in the provision of banking, insurance and investment products and services to retail, commercial, corporate and public sector customers.
The last 12 months have seen FirstRand's share price break out of a channel, with the pace of growth faster than that of recent years. Investors have seen FirstRand Limited shares perform well historically, and it remains a steady choice for many looking to exposure in South Africa.
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Who Are FirstRand Limited
FirstRand Limited wholly owns FirstRand Bank, a full-service bank, and operates through five segments: FNB, RMB, WesBank, Aldermore, and FCC & Other.
The history of FirstRand Limited can be traced back to November 11, 1966 when the company was founded.
Today, FirstRand Limited has a diversified portfolio of products and services in more sectors of the Financials value chain and renders the following services: FNB represents the group's actions in the retail and commercial segments and RMB represents the group in the corporate and investment banking segments. WesBank handles the group's activities in the instalment credit, fleet management and related services in the retail, commercial and corporate segments.
Aldermore does specialist lending across asset finance, invoice finance, small-medium sized enterprises, commercial mortgages, residential mortgages, and buy-to-let areas, while the FCC & Other segment deals with group-wide functions such as treasury, finance, tax, enterprise risk management, regulatory and conduct risk management, and internal audit.
FirstRand Shares – Recent Performance & Data
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FirstRand reported a 4% increase in normalised earnings to R38.0 billion for the fiscal year ending June 30, 2024, up from R36.6 billion in the previous year. The group's return on equity stood at 20.1%, reflecting strong profitability. Despite a challenging macroeconomic environment, FirstRand's diversified portfolio, including FNB, RMB, WesBank, and Aldermore, contributed to this robust performance.
In September 2024, FirstRand absorbed a R3 billion pre-tax accounting provision related to an investigation by the UK's Financial Conduct Authority into the vehicle finance market. Excluding this provision, the group's normalised earnings grew by 10%. Additionally, FirstRand is in the process of acquiring HSBC's South African corporate banking business, aiming to expand its corporate client base and enhance its service offerings.
FirstRand Stock Chart – 5 Year
FirstRand has demonstrated consistent financial growth and strategic expansion over the past 5 years, with the share price making steady progress. The group's normalised earnings increased from R27.9 billion in 2019 to R38.0 billion in 2024, reflecting a compound annual growth rate (CAGR) of approximately 6.4%.
Return on equity (ROE) remained strong, averaging around 20% during this period. FirstRand also expanded its digital banking services and diversified its portfolio through acquisitions, including the purchase of Aldermore in the UK.
FirstRand, The Essentials
The current CEO of FirstRand Limited is Mary Vilakazi, appointed in 2024.
FirstRand Limited has its headquarters at 4 Merchant Place, Corner Fredman Dr. and Rivonia Rd., Sandton, 2196, South Africa.
FirstRand Limited has more than 49 000 employees and currently serves clients in mainly in South Africa and surrounding southern African nations.
FirstRand Limited forms part of the Banking Industry and the Financials Sector of the Johannesburg Stock Exchange (JSE).
How to buy FirstRand Shares – Step by Step
The stock market is one of the most attractive financial markets that sees millions of retail investors and traders' participating daily. To buy, sell or trade FirstRand Limited stocks on the Johannesburg Stock Exchange (JSE), traders and investors can follow a few simple steps:
- Find the share that you want to buy, in this case, “FSR”.
- Select a broker or trading platform that offers access to the Johannesburg Stock Exchange (JSE).
- Review the broker's trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
- Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
- You are now ready to make your first share purchase through the broker.
- You can further start to build and diversify your portfolio by buying more shares.
YOUR CAPITAL IS AT RISK
