CHAMWE KAIRA
FirstRand Namibia expects its earnings and headline earnings for the year ended 30 June 2026 to increase by between 10% and 15% compared with the previous financial year, supported by stronger credit performance and growth in lending and deposits.
In a trading statement issued on the Namibia Securities Exchange (NSX), the group said its improved performance was also supported by an increase in customer numbers and higher transaction volumes.
The group attributed the earnings growth to an improved credit performance, growth in advances and an expansion in franchise deposits.
“FirstRand Namibia Limited shareholders are advised that the group’s earnings and headline earnings for the year ended 30 June 2026 will be materially higher than the prior year by between 10% to 15%,” the company said.
The expected increase points to continued growth across the group’s banking franchise, with higher lending and deposit activity contributing to its financial performance.
FirstRand Namibia said its audited financial results for the year ended 30 June 2026 are expected to be released on or about 10 September 2026.
In comparison, for the year ended 30 June 2025, FirstRandreported a net profit after tax of N$1.9 billion, up 12.2% from N$1.7 billion in 2024, while return on equity improved to 28.6% from 27.8%.
Net asset value per share increased to 2 676 cents from 2 329 cents, while the group declared a dividend of 476.34 cents per share, representing a 34.7% increase year-on-year.
The group said its performance reflected growth in customers and transaction volumes, as well as disciplined management of financial resources and operating costs.
On the balance sheet, total advances increased by 3.9%, while deposits grew by 2.1%. Credit costs, however, increased during the year. The impairment charge rose by 23.9% to N$527 million, mainly because of higher write-offs.
Operating expenses remained under control, increasing by 5.5% to N$2.8 billion. The group’s cost-to-income ratio improved to 46.2%, reflecting continued efforts to optimise costs and improve productivity.
Deposits increased by 2.1%, with FNB Namibia maintaining its position as the country’s largest custodian of retail and commercial deposits.
