See More

RMB earnings take steep rise

Jun 10 2010 14:04

Company Data


Last traded 0
Change -0,32
% Change 0
Cumulative volume 1096236
Market cap 84.15bn

Last Updated: 17-12-2014 at 04:31. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Discovery to boost RMB profit

FirstRand waiting on RMB rebound

RMB shake-up on cards?

RMB faces profit slump

RMB to expand Africa footprint

RMB sets record straight

Johannesburg - Financial services group RMB Holdings [JSE:RMH] advised on Thursday that headline earnings per share for the year ended June are expected to be 31% to 41% higher than the 219.7 cents earned the year before.
Earnings per share are expected to 37% to 47% higher than last year's 207.1 cents while normalised earnings per share will also be 37% to 47% than the 207.9 cents recorded in 2009.  
In a trading statement, the group referred to a trading statement issued earlier on Thursday by its associate, FirstRand (FSR). In that
announcement FirstRand highlighted to its shareholders that, as projected at the interim reporting date, its operating environment had
continued to be challenging with revenue from banking activities remaining under pressure.
However, bad debts have continued to reduce in line with expectations and consequently, WesBank's earnings have recovered strongly, the losses at FNB Homeloans have reduced significantly and FNB Card has returned to profitability.
In addition, RMB's Equity Trading division will be profitable for the year and its Private Equity division has realised a material investment.  

FirstRand therefore believes that its diluted normalised Earnings Per Share for the year to 30 June 2010 will increase by between 32% and 42%.
RMBH added that the remainder of its portfolio has continued to perform in line with the trends reported at the interim stage.
Details of RMBH's results for the financial year ending June 30 2010 are expected to be released on Sens and published in the press on or about September 15 2010.
- I-Net Bridge


Lastest Articles

Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes
Energy saving tips that'll save you money, too

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...