here are limitations however, which includes limitations on how funds can be used. For example, end buyers can no longer use the money used by the buyer to purchase the stated property from the official seller.

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Rand Merchant Bank (RMB), the corporate and investment banking arm of FirstRand pointed to a solid performance in its full-year financials, highlighting an 18% growth in core lending.

Pre-tax profit was up 17% from June 2021, and the ROE improved to 22.1% – up from 18.7% at June 2021, it said on Thursday (15 September).

“Our results showed a continued improvement in the credit quality of RMB’s core lending portfolio. We advanced R126 billion in new loans and refinancings across South Africa and broader Africa,” said RMB CEO James Formby.

The increase in client demand is a sign of improving confidence, especially as much of the funding is earmarked for South African investment, the bank said. “It is part of the reason that South Africa, and many of its businesses, are looking more attractive to investors again.”