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BRIEF-FirstRand ‍updates on impact of proposed acquisition of Aldermore on FirstRand Bank
November 15, 2017 / 12:27 PM / 6 days ago

BRIEF-FirstRand ‍updates on impact of proposed acquisition of Aldermore on FirstRand Bank

Nov 15 (Reuters) - FirstRand Ltd

* ‍IMPACT OF FIRSTRAND GROUP‘S PROPOSED ACQUISITION OF ALDERMORE ON FIRSTRAND BANK LIMITED​

* ‍GOODWILL ARISING FROM ALDERMORE DEAL TO RESULT IN IMPAIRMENT AGAINST FIRSTRAND CAPITAL FOR PURPOSES OF DETERMINING CAPITAL ADEQUACY​

* TO BACK GOODWILL ARISING FROM ALDERMORE DEAL WITH CET1 CAPITAL, PART OF WHICH WILL BE PROVIDED FROM BANK‘S EXCESS REGULATORY CET1 CAPITAL​

* RELATED TO ALDERMORE DEAL, ‍IF SCHEME BECOMES EFFECTIVE, SEES IMPACT ON FIRSTRAND BANK‘S CET1 RATIO TO BE DELINE OF BETWEEN ABOUT 90-130 BASIS POINTS Source text for Eikon: Further company coverage:

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