FirstRand, South Africa’s second-biggest banking group by assets, is adequately capitalised and has liquidity buffers in place to see out the credit crisis, its chief executive said on Tuesday.
CEO Paul Harris told Reuters the bank did not need to shore up its finances due to a global financial crisis that has felled some of the world’s biggest banks.
”We certainly haven’t got a programme to do anything more than what we’re doing,” Harris said after a presentation on the global credit crisis.
”We’ve done a lot of work around ensuring that all our liquidity buffers are in place, so we’re just hanging in, seeing out the crisis.” — Reuters