FirstRand Ltd

FirstRand HQ

FirstRand Limited (or FirstRand Group) is the second largest financial services group in South Africa by total assets and the largest by market capitalization. It is the holding company for FirstRand Bank Ltd. The Group employs about 48,000 people and offers a broad array of products and services including transactional and savings accounts, personal and business lending, auto loans, mortgages, investment services, wealth management; life, health and general insurance; mobile and online banking, debit and credit cards, foreign exchange and other services in Southern, East, West and Central Africa. FirstRand owns such brands as First National Bank (FNB), Rand Merchant Bank (RMB), Wesbank, Ashburton, Aldermore and MotoNovo, among others. It maintains international branches and representative offices in Ghana, Botswana, Mozambique, Namibia, Nigeria, Eswatini (formerly Swaziland), Lesotho, Zambia, India, Angola, Kenya, Shanghai, Guernsey and the United Kingdom. It also has a broker-dealer business in the USA. The operations of FNB Tanzania were taken over by Exim Bank in July 2022. For the year ended June 30, 2022, FirstRand Group had R2 trillion in total assets, R1.66 trillion in deposits, R1.4 trillion in loans and R169 billion in shareholders' equity. The company’s shares are traded on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX), with a market capitalization of R361 billion (US$20 billion) as of February 1, 2023.

FirstRand Ownership Structure:
Major shareholders (06/2022)
Public Investment Corporation - 16.1%
Royal Bafokeng Holdings - 3.0%
Remgro Limited - 2.4%
BEE partners - 5.2%