IFRS 9 transition reports
From 1 July 2018, the group adopted IFRS 9 (which replaces IAS 39) on the recognition and measurement of financial instruments.
The transition report is designed to assist the reader in understanding the differences between IFRS 9 Financial Instruments (which replaces IAS 39 Financial Instruments: Recognition and Measurement), and explains how the adoption of IFRS 9 impacts key financial metrics. IFRS 9 came into effect from 1 July 2018. The group and bank interim results for the six months to 31 December 2018 and subsequent results will be prepared according to this new accounting framework.
IFRS 9 introduces fundamental changes in FirstRand's accounting framework in relation to financial instruments and impairment methodology in particular. However, these are changes to the accounting framework and have no effect on the underlying economic performance. The adoption of IFRS 9 does not change the credit quality of financial instruments on the balance sheet, but results in earlier recognition of credit losses.
Click on the links below to download the PDF documents for FirstRand and FirstRand Bank.
8 December 2017
15 November 2017
13 November 2017
6 November 2017
Amendments to the FirstRand black Employee Trust Deed and FirstRand Black Non-Executive Directors Trust Deed
Incorporating a notice of the general meeting and form of proxy for the general meeting (for use by certified shareholders and dematerialised shareholders with own name registration only).
Combined general meeting on 23 May 2012: circular and revised MOI
A combined general meeting of ordinary shareholders and preference shareholders (shareholders) will be held in the Willow Room, Ground Floor, 4 Merchant Place, corner Fredman Drive and Rivonia Road, Sandton on Wednesday, 23 May 2012 at 11h00 to transact the business as stated below.The purpose of this meeting is to:
|-||approve the amendment of certain of the provisions of the FirstRand Conditional Share Plan 2009;|
|-||adopt the revised Memorandum Of Incorporation (MOI) (which, inter alia, incorporates an amendment to the terms attaching to the preference shares, being a change in the divident rate (the preference share amendment)); and|
|-||approve the preference share amendment by amending the current MOI (this matter will be voted on by way of a separate resolution in order to allow this resolution to only become effective should the resolution pertaining to the adoption of the revised MOI not be passed).|
First National Bank’s (FNB’s) listed parent, FirstRand Limited, announced that it made an offer for 100% of Barnard Jacobs Mellet Holdings Limited (BJM) issued ordinary share capital at a price of R4.50 per share on 21 June 2010. The largest operation acquired in this transaction, BJM’s highly regarded stock-broking business, will be integrated into FNB’s wealth segment.