Full Year 2019 FirstRand Ltd Earnings Call Transcript
All right. Good morning, ladies and gentlemen, and welcome to the presentation of FirstRand's results for the year ended 30 June 2019. We have a lot to get through this morning, and so let's kick that off. Actually, I'll take these glasses off, so I can actually read my notes.
So considering the environment, we are very pleased to be able to report a 6% increase in normalized earnings for the year. And then you can see dividends are increased in line with those earnings. And again, pleasingly for us, we've been able to keep our ROE at the top end of our range of 18% to 22%, coming in at 22.8%. And we're very pleased with that.
Economic profit, or we call it net income after cost of capital, a very important performance pillar in the group. Pleasingly, you can see good growth in that economic stack. And again, you can see that creation of economic value continues.
Just some key takeouts before we get into the detail, you can see here on the slide. So earnings were delivered this year without the usual uplift
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