Firstrand Ltd (OTCPK:FANDY)

$ 42.16 -0.13 (-0.31%) Market Cap: 23.63 Bil Enterprise Value: 26.39 Bil PE Ratio: 11.47 PB Ratio: 1.98 GF Score: 82/100

Full Year 2024 FirstRand Ltd Earnings Call Transcript

Sep 12, 2024 / 09:00AM GMT

Release Date Price: $48.95 (+0.82%)

Transcript

Mary Vilakazi

FirstRand Ltd - Chief Executive Officer, Executive Director

Welcome to everyone who's joined us for the FirstRand Ltd results presentation for the year ended 30 June.

Yes, just a quick recap of the operating environment. We're navigating in this period in South Africa. Our the rate cycle has played out as probably the most significant macro callout, particularly as it was worse than we initially predicted, with rates remaining high for a prolonged period.

The dotted lines on the graph reflect our baseline expectation for the past for the part of the repo rate over the past three years. I believe the group's origination pieces has somewhat shielded us from the full impact of this unexpected cycle as we grew back completely from high-risk business and focus on low to medium risk business.

We will cover this in more detail later. In the UK cost of living pressures we experienced across the economy sorry, while these pressures such as inflation eased over the period, rates remain higher than historical level at now for the UK. And some other countries within the

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