economic impact

 

since the creation of firstrand in 1998, the group has reported a cumulative economic impact of R583 billion
 

2011

2010

 

R million

%

R million

%

Value added

Net interest earned by FirstRand

13 591

32.6

10 664

12.0

Value added by continuing operations

Non-operating income
Non-operating expenditure

13 591

32 750
(11 920)

32.6

78.5
(28.6)

10 664

27 654
(11 262)

12.0

31.2
(12.7)

Value added by continuing operations

Value added by discontinued operations

34 421
7 283

82.5
17.5

27 056
61 538

30.5
69.5

Value added by continuing and discontinued operations

41 704

100.0

88 594

100.0

To employees

Salaries, wages and other benefits

14 405

34.6

15 092

17.0

To providers of capital

Dividends to shareholders

4 480

10.7

3299

3.7

To government

5 255

12.6

4 288

3.7

Normal tax

4 513

 

3 695

 

Value added tax

538

 

431

 

Capital gains tax

120

 

143

 

Other

84

 

19

 

To policyholders

Policyholder claims and benefits

2

-

57 132

64.5

  Insurance contracts

(75)

 

6 330

 

  Investment contracts

77

 

37 187

 

  Adjustment to liabilities under investment and insurance contracts

-

 

13 615

 

To expansion and growth

17 562

42.1

8 783

9.9

Retained income

15 886

 

6 489

 

Depreciation and amortisation

17 737

 

1 766

 

Deferred tax

(61)

 

528

 

Value added by continuing operations

41 704

100.0

88 594

100.0