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Trading statement for the year ending 30 June 2022
FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE ordinary share code: FSR; ISIN code: ZAE000066304
JSE B preference share code: FSRP; ISIN code: ZAE000060141
NSX ordinary share code: FST
LEI: 529900XYOP8CUZU7R671
(FirstRand or the group)
TRADING STATEMENT FOR THE YEAR ENDING 30 JUNE 2022
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, an issuer is required to publish a trading
statement as soon as it becomes apparent that earnings per share for the next period to be reported on is expected, with a
reasonable degree of certainty, to differ by at least 20% from that of the previous corresponding period.
FirstRand’s headline earnings per share (HEPS) of 480.5 cents, earnings per share (EPS) of 476.9 cents and normalised
EPS of 473.3 cents for the year ended 30 June 2021 are expected to increase by more than 20% for the year ending
30 June 2022 (current period). FirstRand’s HEPS, EPS, and normalised EPS for the current period will therefore be at least
576.6 cents, 572.2 cents and 567.9 cents, respectively.
As guided at the time of the publication of FirstRand’s results for the six months ended 31 December 2021, the credit cycle
in South Africa is incrementally gaining impetus, particularly in the retail and commercial segments. Corporate activity is also
showing stronger momentum, particularly in the last quarter. These trends have continued to support advances growth,
resulting in healthy net interest income.
In the UK, advances growth has continued in the vehicle asset finance (VAF) business, with mortgages and asset finance
also presenting an ongoing modest uplift in new business origination.
Activity levels in the domestic retail, commercial and corporate customer segments have increased, with fee and
commission income in particular showing a higher growth trajectory. This, together with strong insurance premium growth
and lower claims, is underpinning an improved non-interest revenue trend.
Group credit impairments continue to reduce and non-performing loan (NPL) formation remains in line with expectations.
Due to ongoing uncertainty, the group remains conservatively positioned with regards to its forward-looking provisions.
The rest of the income statement is broadly in line with previous guidance.
The group has maintained its strong capital and liquidity position.
A further trading statement will be issued once there is reasonable certainty regarding the extent of the increase in earnings
and the relevant HEPS, EPS and normalised EPS ranges.
Shareholders are advised that the forecast financial information contained in this announcement has not been reviewed or
reported on by the group’s auditors.
Sandton
3 June 2022
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 03-06-2022 09:00:00
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