FirstRand sees at least 30% rise in half-year profits


South African lender FirstRand said on Tuesday its profits for the six months to December 31 were likely to rise by more than 30%, citing higher retail loan growth and falling credit impairments.

The bank said headline earnings per share, the main profit measure in South Africa, would be at least 258.6 cents for the period, up from 198.9 cents a year earlier.

A more detailed statement on the increase will follow, it said, adding the bank remained conservatively provisioned due to uncertainty.