Big bonus for World Bank chief sparks protest

2014-10-02 10:15

A $94 000 bonus for the World Bank's finance chief, disclosed in an internal blog, is drawing criticism from staff who are questioning it, amid budget cuts.

UK to review banking portability service

2014-09-30 12:30

Britain is reviewing whether bank customers should be allowed to switch lenders using their existing account number in a bid to boost competition.

Bank derivatives boom ahead of ECB results

2014-09-29 16:45

Investors, not entirely confident that next month's European Bank check will yield positive results, are stacking up derivatives positions.

Be warned of yet another banking scam - body

2014-09-29 12:45

People are being defrauded by being told that their suppliers have changed banking details, warns the SA Banking Risk Information Centre.

Capitec shows higher earnings, gains clients

2014-09-29 09:59

Capitec Bank's first-half earnings have risen after the mass-market lender attracted more customers and booked higher transaction income.

EU banking watchdog to clamp down on banks

2014-09-26 10:30

The European Union's banking regulator is planning to clamp down next month on banks whose pay policies are designed to sidestep the EU's incoming bonus cap.

Bank benefits lure clients - study

2014-09-24 14:15

Competition among banks has risen and some reward schemes on bank accounts seem to be of great benefit to clients, says Solidarity.

Investec sees stronger first-half earnings

2014-09-19 11:32

Investec expects an improved first-half performance, boosted mainly by increased assets under management.

Barclays case: Court dismisses appeal

2014-09-18 19:47

An application by a former relationship manager at Barclays Wealth, a division of Absa, for leave to appeal a 15-year sentence, has been dismissed.

European banks' political defences challenged

2014-09-17 10:00

For the first time since its financial crisis struck in 2008, Europe is carrying out stress tests that could force change at banks with political connections.

Big four banks performing well - PWC

2014-09-16 13:08

The four major banks in South Africa have posted combined headline earnings of R27.8bn, an increase of 13.1% in the six months ending June 2014, PwC says.

Sasfin earnings could have been higher - CEO

2014-09-15 15:47

Sasfin has posted a 15% increase in headline earnings per share, but the group could have boosted growth further, CEO Roland Sassoon tells Fin24.

New head for Portugal's Novo Banco bank

2014-09-15 10:45

Former Lloyds banker Eduardo Stock da Cunha is to take over the helm at Novo Banco, the "good bank" created after the bailout of stricken Banco Espirito Santo.

UK banks slam leverage plans as too complex

2014-09-14 14:15

Britain's banks have slammed plans to impose new capital rules for lenders and said the "leverage ratio" proposals are far too complex.

Barclays poaches Aviva chairperson

2014-09-12 17:23

Barclays has appointed banking and insurance veteran John McFarlane as its new chairperson to oversee the efforts of improving performance.

Santander chair Emilio Botin dies

2014-09-10 12:00

Emilio Botin, one of Spain's most powerful men who transformed Santander from a small domestic lender into the EU's biggest bank, has died of a heart attack.

Ex-Abil boss puts luxury home on market

2014-09-07 15:00

A Rooi-Els home purportedly owned by Leon Kirkinis, the former executive of African Bank, is on the market for R60m.

ECB rates decision will impact JSE

2014-09-04 10:28

An indication of an increase in rates by the ECB could mean emerging economies’ equity markets like the JSE are likely to perform well, says an expert.

Sarb to investigate failed Abil

2014-09-02 17:06

The SA Reserve Bank has launched an investigation into failed lender African Bank Investments to determine if it engaged in reckless conduct.

Swiss private bank makes history with results

2014-08-28 12:30

Swiss private bank Lombard Odier has published first results since its foundation as the ultra-discreet sector puts its books in the spotlight.

Bank downgrades bad news for consumers

2014-08-27 07:00

The downgrade of SA's four biggest banks means consumers will likely pay more when seeking loans and be subject to stringent credit checks, says an expert.

Call to boycott Standard Bank in Zimbabwe

2014-08-26 06:00

Workers of Stanbic Bank - a division of Standard Bank - have started a boycott campaign against the bank to demand a salary hike and perks.

Bank downgrades: Sarb misses the point

2014-08-22 07:00

It is important to separate downgrades from the health of the banking system and the Reserve Bank's commitment to financial stability, says an economist.

S&P: No plans to downgrade SA banks

2014-08-21 11:58

Rating agency Standard & Poor's says it does not intend to downgrade SA's biggest lenders, easing concerns that Moody's cut could have a knock-on impact.

African Bank 'kept lending to indebted customers'

2014-08-21 10:11

Court documents show that African Bank made high-interest loans to customers even when bank statements indicated they would struggle to service their debts


IMF warns on growth of shadow banking

2014-10-01 20:30

Lightly regulated "shadow banking" has grown to huge proportions in the global financial system and increasingly poses a risk to stability, says the IMF.

Trevor Manuel joins Rothschild

2014-09-30 11:08

Former finance minister Trevor Manuel has been appointed senior adviser to the Rothschild Group, according to the financial advisory services company.

African Bank and credit cards

2014-09-29 14:33

A few Fin24 users wrote with queries about how the African Bank curatorship is impacting the credit cards they have with the bank.

Swiss bank UBS starts FX settlement talks

2014-09-29 12:30

Switzerland's UBS has begun settlement talks over allegations it had been involved in manipulating foreign exchange rates, says the bank.

Latest on restructuring of African Bank

2014-09-26 17:57

The curator of African Bank has provided an update on the restructuring of the bank and the impact on the various stakeholders.

China considers replacing central bank head

2014-09-25 13:00

Chinese central bank governor Zhou Xiaochuan, an advocate of pro-market financial reforms, may lose his job in a reshuffling.

Equities remain suspended, Abil cautions

2014-09-22 11:50

Investors of African Bank are advised that the curatorship of the bank and the restructuring initiatives in respect of Abil remain ongoing.

US, Australia welcome bank progress

2014-09-19 11:00

The United States and Australia are encouraged by progress on rules to reduce the problem of "too-big-to-fail" banks as part of efforts to improve stability.

Most Bank of England officials oppose rate rise

2014-09-17 16:15

Most Bank of England policymakers remained against raising interest rates when they met this month, and data show wages rising at their slowest pace on record.

European banking job numbers drop further

2014-09-16 16:15

The banking sector's long and painful restructuring accounted for a furthe fall in staff numbers at Europe's biggest lenders in the first half of the year.


Sasfin Holdings has recorded a jump in headline earnings per share to 486 cents for the six month period ended December 2013 31 from 421c in the same period last year.

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Portugal's 'good bank' gets new head

2014-09-15 11:45

Former Lloyds banker Eduardo Stock da Cunha is to take over the helm at Novo Banco, the "good bank" created after the bailout of stricken Banco Espirito Santo.

JPMorgan hackers accessed servers

2014-09-14 15:00

Hackers have accessed dozens of servers at JPMorgan Chase & Co in a cyberattack launched in June, though no money was taken.

Former African Bank boss apologises

2014-09-14 09:18

Former African Bank executive Tami Sokutu has finally apologised for having dismissed the poor who borrowed from the embattled bank.

Botin's daughter to head Santander

2014-09-11 10:30

Banco Santander has named Ana Botin as its new head after her father Emilio's sudden death, making her one of the top women in banking.

Scottish banks hit on more independence support

2014-09-08 13:45

Shares in Lloyds Banking Group and Royal Bank of Scotland have fallen after supporters of Scottish independence took their first opinion poll lead.

African Bank rot may be worse than anticipated

2014-09-05 11:17

African Bank asked clients R600m too much on loans in arrears and its auditors have brought this transgression to the NCR's attention.

Investors expect billions raised after ECB tests

2014-09-03 16:00

The European Central Bank's review of eurozone banks will have to ask lenders to raise an additional €51bn to be credible with markets, shows a survey.

Disappearing EU inflation heightens ECB concerns

2014-08-29 12:48

Euro zone inflation has dropped as expected to a fresh five year low in August, something likely to concern the European Central Bank.

IMF's Lagarde put under investigation - source

2014-08-27 11:45

IMF chief Christine Lagarde has been placed under formal investigation by French magistrates for her alleged role in a long-running political fraud case.

Swiss private banks to lift veil on results

2014-08-26 09:20

In a revolutionary move, Swiss private banks are set to announce their results after a radical business model shift amid tougher international regulations.

Obama calls for renewal of Ex-Im Bank

2014-08-24 11:13

President Barack Obama has urged business owners to press Congress to reauthorise the US Export-Import Bank as its closure will stunt export growth.

Top US bank fines since the financial crisis

2014-08-21 19:30

US authorities hit Bank of America with a record $16.65bn fine for selling billions of dollars in high-risk mortgage securities disguised as solid investments.

KPMG wants EU bank reforms shelved

2014-08-21 11:15

KPMG has written to Europe's largest lenders saying a European Commission plan to separate banks' consumer and investment-banking arms should be shelved.

Regulators warn banks over poor risk-spotting

2014-08-21 09:45

US regulators are sending some of the biggest global banks verbal warnings as they crack down on the firms' poor grasp of their own weaknesses.

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