Africa Business News of Thursday, 4 June 2020
Source: af.reuters.com
S.Africa's FirstRand warns of over 20% profit fall
The logos of companies Rand Merchant Bank, FNB, Wesbank and Ashburton Investments
South African lender FirstRand said on Thursday its full-year profits were likely to be more than 20% lower than in 2019, due to a spike in bad debts and falling revenues.
The bank expects its headline earnings per share - the main profit measure in South Africa - for the year to June 30 to decline significantly from the 497.2 cents it reported last year.
