Date Posted

SA’s FirstRand to exit UK unit after car loan provisions hit $993 million

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FirstRand will seek an orderly ‌exit from its United Kingdom

FirstRand will seek an orderly ‌exit from its United Kingdom (UK) unit Aldermore, the South African (SA) ⁠financial services group said this Tuesday, citing challenges in the UK market as ‌it ⁠also raised provisions for mis-sold UK car ⁠loans to 750 million Pounds ($993.38 million).

 

–Reuters–