The mid-term budget spooked many investors as it was thin on detail, but exposed an unexpected gap between income and expenses.
These events typically create spikes in the currency. History shows that this is not the time to panic, however the risk of further downgrades has certainly increased and now look unavoidable.
We have consistently suggested that you regularly review your offshore i... ››› more
Since the result of the Brexit referendum came in last week, investors have watched millions disappear from the companies in their portfolios. This week, it's the South African financial stocks that took the brunt of the impact.
- Nedbank (JSE: NED) is 4% lower this week
- Standard Bank (JSE:SBK) fell 4%
- Barclays Africa (JSE: BGA) also took a 4% knock
- While FirstRand (JSE: FSR) fell ... ››› more
Founded in 1998, FirstRand's roots stem back to the 1970s when three entrepreneurs formed an investment bank. It's one of the Johannesburg Stock Exchange's Top 40 companies…
Full name: FirstRand Limited
Short name: Firstrand
Sector: Banks – banks
Five top facts about FirstRand
FirstRand employs over 38,500 people working in 44 countries in its banks, branch... ››› more
Earlier today, FirstRand released its provisional results for the full-year to the end of June.
The bank showed strong growth in earnings over the period. But FirstRand disappointed investors by not paying a special dividend.
The company's share price dipped on release of the results.
Let's take a closer look at what FirstRand revealed…
FirstRand saw earnings rise 21%
As expect... ››› more
Yesterday, after the market closed, rating agency Moody's downgraded South Africa's four big banks.
After the Reserve Bank rescued troubled lender African Bank, Moody's believes there are risks in SA's banking sector.
This morning, shares in Standard Bank, Absa, FirstRand and Nedbank have all fallen as investors digest the news. This is in spite of the Reserve Bank disputing Moody's decision... ››› more
Yesterday, Moody's Investor Services announced that it downgraded four of the country's biggest banks: Standard Bank, Absa, Nedbank and FirstRand.
Moody's has concerns over the Reserve Bank's ability to protect creditors following what happened with African Bank a few weeks ago.
Let's take a closer look at what's going on…
Moody’s cut the credit ratings of Standard Bank, Absa, Nedb... ››› more
Earlier today, the South African Reserve Bank announced it fined the four largest South African banks over lax Financial Intelligence Centre Act (FICA) controls. This relates to the banks failing to have adequate provisions against money laundering and the financing of terrorism. The central bank dealt each bank a hefty fine. Let's take a closer look at what happened…
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“How does brokerage work with CFDs?”
Many traders get into CFDs (Contract for Difference) but they have no idea what brokerage they'll pay.
This is very dangerous because if you pay high brokerage costs, you could wipe out all of your gains.
Here's what you need to know to make sure your stock broker isn't screwing you with high brokerage costs.
Here are three steps to calculate y... ››› more
Earlier today, FirstRand released its results for the full year to June. And the results showed that the bank is doing well in the current economic climate. Let's take a closer look at what the results show…
Africa’s second biggest lender by value, FirstRand, reported “a 20% jump in full year earnings” today, reports Fin24. Strong loan income and “earnings from fees and commissions” ... ››› more
In an already crowded market place, FirstRand have launched asset management business, Ashburton Investments. Read on to find out what this means for SA's second biggest bank…
Since the market crash of 2008 some changes have happened in the banking sector. Not surprising when you consider that irresponsible lending was partly responsible for the global meltdown.
But this change also means t... ››› more
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