Global

FirstRand, Africa’s largest bank had good in 2016
Global

FirstRand, Africa’s largest bank had good in 2016

Africa’s largest bank by asset base, FirstRand said its full year net profit rose by 13%. The bank’s shareholders are getting to their credit ZAR11.889 billion compared to ZAR10.480 billion posted in 2015. Headline earning per share grew 14% year on year. Last year earning per diluted share was ZAR185.4 […]

Sanlam underperforms, full year profit fell by 6%
Global

Sanlam underperforms, full year profit fell by 6%

South Africa’s largest life insurance group, Sanlam has just posted 6% year on year fall in its profit for 2016. Sanlam has a stake in Nigeria’s FBN Insurance, a subsidiary of FBN Holdings, West Africa’s largest financial services company. The company said currency moves and a weak equity market weakened […]

Old Mutual to cut itself into four units
Global

Old Mutual to cut itself into four units

One of the largest financial services group in Africa, Old Mutual PLC said its full year profit for 2016 was up by 1%. The company’s earning is above analysts forecast. Adjusted operating profit for the year was GBP1.67 billion. Old Mutual is about to carry out a total restructuring that […]