FSR sitting at 95.87 and the dividend yield is still decent if you believe the NIM holds up, but I'm watchi…by @sceptic_pieter on $FSR

FSR sitting at 95.87 and the dividend yield is still decent if you believe the NIM holds up, but I'm watching net interest margin closely because that's where the real story is. Loan impairments creeping up and the economic cycle turning, so margins say otherwise to all the "recovery" talk you hear. Bank valuations got hammered globally, we're not immune, but FirstRand's diversified business helps. Problem is the low single digit growth outlook and we're paying for history here, not the future.