FirstRand is one of the top three banks in South Africa. FirstRand adopted a global expansion plan starting in the Australian market by establishing a local lending operation from a “Greenfield” base.
IBSA’s initial engagement focused on the development of a strategy and plan based on a strategic analysis of the local environment, regulatory requirements and local opportunities. We advised on, developed, and implemented a portfolio management framework.
The primary objectives given to IBSA by the First Rand Board of Management were to:
The IBSA Senior Strategy team performed an in-depth study and analysis of FirstRand’s needs, and from that study submitted a strategy recommendation to the Board. It made recommendations of the target platform, proposed in diagrammatic form the proposed solution, and set out the elements of the solution.
The strategy deliverables included:
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