FirstRand Namibia reports strong earnings growth, declares dividend

FirstRand Namibia Ltd announced a net profit after tax of N$1,912 million for the year ended June 30, 2025, a 12.2% increase from the previous year. Headline earnings per share rose by 11.4% to 714.5 cents, while basic earnings per share increased by 12.4% to 715.8 cents. The company declared a final ordinary dividend of 284.02 cents, contributing to a total dividend per share of 476.34 cents, up 34.7% from 2024.

The company's pre-provision profit before tax grew by 12.7% to N$3,198 million, driven by an 8.9% rise in net interest income and a 10.7% increase in non-interest income. Deposits also increased by 2.1% to N$45.6 billion, while net advances grew by 3.9% to N$39.2 billion. The total risk-based capital adequacy ratio improved to 20.3%, up from 17.6% in 2024, reflecting strong capital management.

Despite an increase in impairment charges by 23.9% to N$527 million, the non-performing loan ratio decreased to 5.2% from 6.1% in 2024. Operating expenses were tightly managed, increasing by 5.5% to N$2,799 million, leading to a decrease in the cost-to-income ratio to 46.2%.