Half Year 2021 FirstRand Ltd Earnings Call Transcript
Right. Let's begin. Good morning, everybody, and welcome to FirstRand's Half Year Results for the 6 Months Ended December 31, 2020.
The group metrics on Slide 2 reflect performance against a prepandemic base. So if we run through some of those highlights, normalized earnings, you can see, declined 21% to come in at ZAR 11 billion. Preprovision operating profit, a touch lower at ZAR 25 billion and then point of -- point-in-time return on equity coming in at 15.6%. And pleasingly, we were able to continue to grow our net asset value for the group. So that track record remains in place.
Operating leverage, a little bit weaker given the environment. And we are very pleased to have maintained our core equity Tier 1 ratio over this period. And you can see relative to the comparative, it has stayed the same. We're delighted, of course, to have resumed declaring our dividends and so we have declared an interim dividend of ZAR 1.10 per share, that takes us to the bottom end of our target payout range of 1.8x. In the
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