First National Bank News
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First National Bank, the retail- banking unit of FirstRand Ltd., said it wants to find a black executive to replace Jacques Celliers when he steps down as head of business banking at the end of this year.
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FirstRand Ltd., South Africa’s second-largest bank, said Jacques Celliers will replace Michael Jordaan as chief executive officer of its consumer-banking unit at the end of this year.
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South African banks tightened lending conditions in the fourth quarter even as impairments fell and the central bank kept interest rates at the lowest in more than 30 years.
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South African consumer confidence slumped to a nine-year low in the first quarter as slower economic growth, job losses and higher inflation curbed households’ finances.
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South African manufacturing output fell 2.9 percent in February as stagnant domestic and global growth curbed demand, offsetting the benefits of a weaker rand.
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South African house price rose 1.4 percent in January from a year earlier, First National Bank said.
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South African retailers climbed to the highest in a week after Mr Price Group Ltd., a clothing, furniture and linen retailer, said full-year earnings rose by more than 20 percent.
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The agency that oversees the U.S. municipal-bond market delayed proposed rules for financial advisers until the Securities and Exchange Commission defines who will be subject to the regulation.
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Gerald J. Ford has something he wants to show off. He jumps into a golf cart and races toward one of the 11 barns on his lush, 1,000-acre Kentucky thoroughbred farm. He speeds past tall sycamore trees, painted lawn jockeys and manicured fields of grass glistening from the May morning dew.
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First National Bank of Botswana Ltd. said first-half net income rose to 260.2 million pula from 204.9 million pula the year earlier.
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