FirstRand Profit Falls as $1.1 Billion Provision Curbs Gains
FirstRand Ltd. profit fell for the first time in six years after a £807 million ($1.1 billion) provision for UK clients’ claims over missold car loans at its British motor-finance...
By Adelaide Changole · Bloomberg Markets
FirstRand Ltd. profit fell for the first time in six years after a £807 million ($1.1 billion) provision for UK clients’ claims over missold car loans at its British motor-finance unit countered growth from loans and fee income.