)

FirstRand (FSR) investor relations material
FirstRand H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved 10% growth in normalized earnings to R41.8bn and ROE of 20.2%, despite a £240 million U.K. Motor Commission provision and challenging macro conditions.
Net asset value increased 11% to R217.4bn, and economic profit rose 12% to R11.5bn.
Delivered strong shareholder outcomes with ordinary dividend per share up 12%.
Strong performance from domestic franchises, with FNB, WesBank, and RMB highlighted for robust earnings and ROE.
Broader Africa portfolio delivered healthy ROE of 23% and economic profits of R1.6bn.
Financial highlights
Net interest income grew 12%, net asset value up 11%, and cost-to-income ratio improved to 50.8%.
Non-interest revenue grew 6%, with fee and commission income up 6% and trading/fair value income up 14%.
Credit loss ratio improved to 85 bps, at the bottom of the through-the-cycle range.
CET1 capital ratio increased to 14%, supported by strong earnings and risk-weighted asset optimization.
Dividend per share increased 12% to 466 cents, with dividend cover at 1.6x–1.7x.
Outlook and guidance
Expectation of further easing in South African monetary conditions and improved inflation certainty.
ROE anticipated to trend to the top end of the 18%-22% target range, with strong operational performance expected to continue.
FY26 expected to deliver high single-digit NII growth, higher NIR growth, and continued cost containment.
Positive jaws expected from top-line growth and cost management.
Ongoing global policy and economic uncertainty, and tough macro conditions in Botswana and Mozambique, remain key risks.
Next FirstRand earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage