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FirstRand to Exit UK After £750 Million Car-Loan Losses
Primul articol: 7 apr. 2026, 16:39
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Ultima actualizare: 7 apr. 2026, 16:39
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South African financial services group FirstRand has announced its decision to exit the UK market following substantial losses of £750 million linked to its car-loan business. The significant charges have prompted a strategic review, leading to the decision to withdraw from the UK. This move reflects the challenges faced by some financial institutions in the UK car-loan sector and FirstRand's broader reassessment of its international operations.Articole despre acest subiect
Foto: Bloomberg
FirstRand Vows to Exit UK as Car-Loan Charges Hit £750 Million
FirstRand Ltd. plans to exit its UK motor-finance business after saying it will raise a provision to cover compensation for clients over claims they were missold car loans in the UK by almost half to £750 million ($994 million).
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