FirstRand Limited Overview
Pro stress-test →FirstRand wholly owns FirstRand Bank, a full-service bank providing comprehensive retail, commercial, corporate and investment banking services in South Africa and offers niche products through three separately branded divisions: First National Bank (FNB), WesBank and Rand Merchant Bank (RMB). FirstRand is one of the five largest banking groups in South Africa and sub-Saharan Africa.
Strategic Profile
Pro stress-test →FirstRand executes its strategy through a portfolio of leading financial services franchises including Rand Merchant Bank (RMB) for corporate and investment banking, First National Bank (FNB) for retail and commercial banking, WesBank as an instalment finance provider, and Ashburton Investments for asset management. The group has subsidiaries in South Africa and in the countries of Botswana, Mozambique, Namibia, Lesotho, Tanzania, Ghana, Zambia, Nigeria and the UK.
Competitive Landscape
Pro stress-test →FirstRand is one of the big four South African retail, commercial and investment banks. It competes primarily with other major South African banking groups including Nedbank and Standard Bank in retail and commercial banking, while competing with international players in investment banking and asset management services.
Industry Context
FirstRand Limited operates in Banking and Financial Services.
Key facts
Founded: 1998 · Headquarters: Sandton, South Africa · Employees: 49,233 · Market cap: ZAR 53.87T