About FirstRand

FirstRand Limited, through its subsidiaries, provides banking, insurance, asset management, and health services in South Africa and internationally. The company engages in various financial services activities in the areas of retail, corporate, investment and merchant banking, life and health insurance, employee benefits, short term insurance, and asset and property management. The company consists of a portfolio of financial services franchises, including First National Bank (FNB), the retail and commercial bank; Rand Merchant Bank (RMB), the investment bank; WesBank, the installment finance business; and Momentum Group Limited, the life insurance business. As of June 30, 2008, the company operated 712 branches and 4800 ATM's in southern Africa. Products and Services The company offers smart and Mzansi accounts; microloans (SmartSpend); ATMs (including retail & mini-ATMs); cell phone banking and prepaid products; housing finance (SmartBond & Smart Housing Plan); cheque & transmission products, including overdrafts; investments and equity products; personal loans (including student loans); eBucks; home loans; and card Issuing. It also offers small business, business and medium corporate transactional and overdraft products; investment products; commercial property finance; debtor finance; FNB leveraged finance; BEE funding; franchises; tourism; and agric and start-ups. The company provides various financial solutions, including working capital solutions, structured finance, investment products, transactional banking and term loans to the mid corporate, business, and small business sub segments. It also offers corporate current account services and associated working capital solutions; SpeedPoint (card acquiring); bulk cash; electronic banking (FNB Online and Hyphen); international banking; and custody services. Its corporate and transactional banking provides working capital solutions and transactional banking to corporates, financial institutions, and state owned enterprises. The company also offers public sector banking services, such as transactional banking, working capital requirements, and other financial products and services to the three spheres of government; namely national, provincial, and local government. It also services universities, public schools, and public sector related trade unions. Markets The company, in addition to South Africa, has operations in the neighboring countries, including the United Kingdom, the Middle East, and Australia. It also has start up operations in Brazil and India. Acquisitions In 2007, the company acquired 80% of Banco de Desenvolvimento e Comercio SARL; 100% of the Transnet Lending division; and 65% of Rentworks Africa (Pty) Limited, a rentor of IT and other assets.