Listed on the Johannesburg Stock Exchange and the Namibian Stock Exchange, FirstRand is one of the largest financial institutions in Africa, with a market capitalization of more than ZAR240 billion ($17 billion) as at 2 February 2016. The group executes its strategy through its portfolio of financial services franchises: First National Bank (FNB), a retail and commercial bank; Rand Merchant Bank (RMB), a corporate and investment bank; WesBank, an instalment finance provider; and Ashburton Investments, a recently established investment management business.