Created before Nov 2016
Last update: 2017-09-01 10:59:01
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FirstRand Limited (also referred to as FirstRand Group) was established on April 1, 1998. FirstRand is a fully integrated financial services group and one of the big four South African retail, commercial and investment banks. Through its ownerships of brands like First National Bank (FNB), Rand Merchant Bank (RMB), Ashburton Investments, and Wesbank, the group operates in almost every area of the financial services arena. The group has representation elsewhere in Africa, including Nigeria, as well as the United Kingdom, Dubai, Australia, China, and India. As of June 2017, the total assets of FirstRand amounted to ZAR 1.082 trillion.
The bank has signed the Equator Principles under the name FirstRand Bank Ltd. in 2009.
4 Merchant Place, Cnr. Fredman Drive & Rivonia Road, 4th Floor
Johan Burger |
Chief Executive Officer
|Annual report||Annual integrated report 2017|
listed on JSE Limited
FirstRand's ownership structure can be viewed here.
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FirstRand 2010 Corporate Governance and Sustainability Reporting - Independent Assurance Statement
Voluntary initiativesFirstRand has committed itself to the following voluntary standards:
FirstRand's sustainability webpage van be viewed here. In it's 2015 Annual Integrated Report (p.164), FirstRand states "FirstRand has formally integrated environmental and social risk management processes into its credit risk governance process, which is supported by enterprise-wide social and ethics committee structures. these processes include the following key measures:
- defining requirements for environmental and social risk assessment and monitoring approved transactions;
- developing and communicating environmental and social performance standards that clients will be expected to meet within an acceptable timeframe; and
- defining environmental and social roles and responsibilities for both FirtstRand and its clients."
Page 165 of the report briefly shows the Environmental and Social Risk Assessment review, from deal indentification to monitoring and evaluation.
FirstRand and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. FirstRand adopted the Equator Principles in 2009.
Reporting on the Equator Principles
FirstRand must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- FirstRand is not in compliance with its reporting obligations. The link provided does not link to the required information
Implementation and reporting
FirstRand is reporting on the implementation here.