12
Sep
Staff Writer FirstRand Namibia released its financial results for the year ending 30 June 2020 where its profit before tax decreased by 23.7 percent to N$1.21 billion compared to N$1.58 billion recorded prior year. “FirstRand Namibia entered this crisis in a position of strength in terms of capital, liquidity, technology and, importantly, talent. Considering the repo rate and prime rate reduction during the reporting period of 275bps, net interest income remained flat, N$2 013.4 million (2019: N$2 012.2 million). Interest expense decreased by 0.4 percent while interest income decreased by 0.2 percent,” FirstRand Namibia Chief Financial Officer Oscar Capelao said.…