June 4, 2020 / 12:15 PM / a month ago

S.Africa's FirstRand warns of over 20% profit fall

JOHANNESBURG, June 4 (Reuters) - South African lender FirstRand said on Thursday its full-year profits were likely to be more than 20% lower than in 2019, due to a spike in bad debts and falling revenues.

The bank expects its headline earnings per share - the main profit measure in South Africa - for the year to June 30 to decline significantly from the 497.2 cents it reported last year. (Reporting by Emma Rumney Editing by Alexander Winning)

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