FIRSTRAND LIMITED - Firstrand acquires remaining minority stake in DirectAxis

Firstrand acquires remaining minority stake in DirectAxis

FirstRand Limited  
(Incorporated in the Republic of South Africa)  
(Registration number: 1966/010753/06)  
JSE Ordinary Share Code: FSR ISIN: ZAE000066304  
JSE B Preference Share Code: FSRP ISIN: ZAE000060141  
NSX Ordinary Share Code: FST  
(“FirstRand” or “the Group”)  
          

FIRSTRAND ACQUIRES REMAINING MINORITY STAKE IN DIRECTAXIS  

FirstRand Limited (FirstRand) today announced that it has acquired the remaining minority stake in 
DirectAxis Proprietary Limited (DirectAxis). FirstRand already held a majority 65.48% share in 
DirectAxis which provides marketing, acquisition, administration and collections services on behalf 
of WesBank’s personal loans division.  

Commenting on the transaction, Johan Burger, Deputy Chief Executive Officer of FirstRand 
commented that FirstRand had acquired the remainder of DirectAxis in order to more effectively 
leverage the benefits of the direct channel and that this would be key to generating growth in cross 
sell opportunities. 

“Our stated strategy is to grow through cross selling banking and insurance products into the 
Group’s combined customer base. We believe that full ownership of DirectAxis will allow us to 
integrate this valuable channel with all of our existing origination channels, leverage its direct 
marketing capabilities cross the Group, expand its product offering into the FNB customer base and 
cross sell FNB’s transactional offering into the DirectAxis customer base, of which only 30% currently 
has a core transactional account with FNB.”  

The unsecured lending portfolios which DirectAxis manages on behalf of WesBank and other 
external parties are largely comprised of lending to the middle consumer market (LSM 7-10). The 
portfolios have proven to be resilient in difficult credit environments. 

“DirectAxis has been a very successful contributor to the Group’s strategy to grow in personal loans, 
particularly given the high quality customer segments it services” said Burger. “The management 
team is highly respected in the market and has enjoyed a long and fruitful relationship with 
WesBank”. 

FirstRand said that the financial details of the Transaction would be outlined in its year end results 
announcement, scheduled to be published on 10 September 2015. 

Sandton  
2 July 2015  
 
Sponsor  
RAND MERCHANT BANK (A division of FirstRand Bank Limited) 

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