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The FirstRand group's history traces back to the 1970s as an investment bank.The group as currently was established on 1 April 1998, through a merger of the financial services interests of Anglo American Corporation of South Africa Limited (now Anglo American plc) and RMB Holdings (RMBH) in order to achieve the objective of a unified financial services grouping.
This merger gave rise to First Rand and was listed on the Johannesburg Stock Exchange on May 25, 1998, with Anglo American and RMH owning 20.43% and 25.03% of the authorized capital of FirstRand respectively. [12] FirstRand had two main subsidiaries i.e. FirstRand Bank and FirstRand Insurance, holding banking and insurance investments respectively.
The RMBH restructure was completed on 7 March 2011 [5] and the shares of RMIH started trading at the JSE on the same day. [6] This restructure was made possible due to the common shareholding in RMB Holding, Remgro and FirstRand. However, to date RMB Holdings and RMI Holdings share the same management team and resources under a management ...
The FTSE/JSE Top 40 Index is a South African stock market index. The index consists of the 40 largest stocks in the FTSE/JSE All-Share Index of the Johannesburg Stock Exchange by market capitalization. The index was published on June 24, 2002, with a base value of 10,300.31 points.
FirstRand is listed as a "locally controlled bank" by the South African Reserve Bank, the national banking regulator. [8] As of May 2012 [update] , the group had total assets valued at US$90.3+ billion (ZAR:698 billion) (2011) [ 9 ] with subsidiaries in seven sub-Saharan countries and in Australia and India .
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This is a list of companies traded on the JSE. The original compilation of the list was done in February 2006. The original compilation of the list was done in February 2006. Contents: