Stakeholders require management to prove the sustainability of their business through a rigorous examination and explanation of the specific linkages between strategy, operational execution, risk management, customer and staff satisfaction and financial performance. This ultimately represents a truly "integrated" investment picture, and this year's Annual Report builds on FirstRand’s efforts to present such a complete investment picture. I believe this is particularly important for a business such as ours, given the importance of banks to the economies and communities they serve. - CEO Statement, FirstRand 2010 Annual Report
FirstRand's financial and non financial performance this year was most satisfactory and I am extremely pleased that the Group has regained its position as a leading financial services Group.
One of the most critical aspects of running a business that provides employment to thousands of people and is core to broader socio-economic development is ensuring the long-term sustainability of that business. As we have seen all too recently, when banks fail the economic stability of nations and indeed the entire global financial system are threatened. This has brought the issue of "sustainability" into sharp focus. Sustainability has been considered somewhat of a "soft" topic until fairly recently, an addendum to the normal course of running a business and relying too heavily on anecdotal evidence rather than measurable benchmarks. This approach is now a thing of the past.
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