ARTICLES RELATING TO BANKS

Europe's banks face moment of truth

2014-10-23 12:30

Eurozone's biggest banks will receive the European Central Bank's final verdict on their finances, after doubts on the health of the region's banking sector.

Spain credit card scandal causes outcry

2014-10-21 15:25

Credit card splurges by bank officials have sparked fury among Spaniards, amid a probe into whether cards held by executives have been abused for personal use.

BNP calls on other banks for help

2014-10-07 10:30

BNP Paribas has asked at least three banks to help it clear certain energy transactions in US dollars to ensure it can keep its energy trade division operating.

Banks must serve people - Nzimande

2014-10-05 21:05
124 comments

Banks and the financial sector should serve the people and let go of "exploitative" behaviour, says SA Communist Party secretary general Blade Nzimande.

Fighting bank crime needs joint effort - Sabric

2014-09-19 18:38

The SA Banking Risk Information Centre says it will work with banks, cash-in-transit companies and the police to bring down crime in the banking sector.

Scotland: Why banks will relocate

2014-09-11 19:54

Scotland's biggest five banks will relocate to England if citizens vote for independence. Here are the main reasons and the implications for staff and customers.

EU bank tests may miss trillion dollar risk

2014-09-10 16:28

Some European banks are being checked by regulators for signs of capital weakness may be sitting on up to a trillion dollars of potentially unsafe assets.

FirstRand posts earnings jump

2014-09-09 09:17

FirstRand has reported an expected 21% rise in full-year earnings but did not pay out the special dividend investors had been hoping for.

Zim banks reduce lending as debt looms large

2014-09-05 14:53

Zimbabwean banks have reduced their lending as the sector is saddled with $700m in non-performing loans, making lending highly risky.

Tough task for African Bank commissioner

2014-09-03 12:13

The registrar of banks has appointed a commissioner to investigate African Bank in terms of the provisions of the Banks Act.

Insurers can reject quake damage pay-outs

2014-08-28 07:00

At least five insurers will not pay for damages to houses caused by the earthquake that hit the country if it has any links to mining, according to a study.

Capitec: the next Abil?

2014-08-24 09:00

Capitec too faces headwinds but it's no disaster in the making, says an asset manager.

Citigroup to sell its Japanese retail arm

2014-08-20 08:29

Citigroup is eyeing the sale of its Japanese retail banking operations, more than a century after setting up shop in the Asian nation.

Moody's cuts ratings of four more top banks

2014-08-19 18:27

Moody's has downgraded the credit rating of Standard Bank, Absa, FNB and Nedbank after Capitec suffered the same fate.

Ecobank bets on Nedbank taking 20% stake

2014-08-19 15:09

Pan-African lender Ecobank is expecting South Africa's Nedbank to convert a $285m loan to shares in Ecobank before the end of the year.

UK's Serious Fraud Office probes loan schemes

2014-08-18 09:17

The Serious Fraud Office is looking into allegations of high street banks misusing government schemes designed to boost lending to small businesses.

Abil distances itself from Sokutu comments

2014-08-17 17:00

Abil and its curator Tom Winterboer have distanced themselves from remarks by former bank employee Tami Sokutu.

Ex-African bank boss not remorseful

2014-08-17 10:20
214 comments

A former African Bank executive, Tami Sokutu, has turned his back on those drowning in debt due to easy loans from the bank.

Absa ditches African Bank investments

2014-08-15 20:50

Absa Bank says it has removed all African Bank Investments Limited investments from its Absa Money Market Fund to provide certainty and confidence to investors.

Bad debt in SA tops R100bn

2014-08-12 17:00

South African banks have written off or made provisions to write off debt of more than R100bn over the last 12 months.

NCR faces flak over African Bank fiasco

2014-08-11 17:46

The Debt Counselling Industry portal is calling for a probe into the National Credit Regulator, claiming it is an accessory to the crisis at embattled African Bank.

Rescue plan for African Bank

2014-08-11 07:52

A consortium involving major banks will inject R10bn into the embattled African Bank Investments Limited, according to Reserve Bank governor Gill Marcus.

Regulators 'should have foreseen Abil woes'

2014-08-08 07:49

Why did regulating bodies not sound enough alarm bells as African Bank Investments' bad loan book was being built up into 2012, asks an analyst.

Ellerine applies for 'rescue'

2014-08-07 15:56

Ellerine, the furniture retailing arm of troubled South African lender African Bank Investments has applied for temporary protection from creditors.

 

Big states duck rival bank's launch

2014-10-24 14:45

Australia, Indonesia and South Korea have skipped the launch of a China-backed Asian infrastructure bank.

EU bonus cap a knock for banks - HSBC

2014-10-21 18:15

European rules to cap bankers' bonuses at twice fixed pay are "a retrograde step" that could add to difficulty in recruiting staff to the industry, says HSBC.

Eurozone banks unable to support growth - IMF

2014-10-08 16:08

Eurozone banks remain undercapitalised and unfit to lend at levels needed to restore sustainable growth in the currency area, says the International Monetary Fund.

German firms now pay banks to park funds

2014-10-06 14:49

The lowering of interest rates from 0.15% to a super low 0.05% now means German companies have to pay an interest of 0.2% to keep money in current accounts.

Barclays tops UK banking complaints league

2014-09-26 07:14

Barclays has received the most complaints among Britain's banks in the first half of this year, though complaints overall in the sector fell 5%.

Abil plans to re-list on the JSE

2014-09-12 11:57

African Bank Investments plans to re-list on the Johannesburg Stock Exchange and may expand into secured lending and insurance, according to a report.

Banks plan London move if Scots vote to secede

2014-09-11 10:01

Royal Bank of Scotland and Lloyds Banking Group have made contingency plans to move their registered offices to England in the event of a vote for independence.

FirstRand hoards capital for expansion

2014-09-09 18:35

FirstRand says it will save cash for sub-Saharan expansion, frustrating some investors who have been expecting a hefty payout.

Barclays taps vein biometrics

2014-09-06 16:31

Barclays is launching a finger scanner for corporate clients and will roll out voice recognition for millions of retail clients.

Diamond's Africa bank buys Nigeria's UBN stake

2014-09-05 14:45

An African investment vehicle of former Barclays boss Bob Diamond, has lifted its stake in Union Bank of Nigeria to almost 30% with a $270m investment.

UK bankers' bonuses rise twice as fast

2014-08-29 19:03

Bonuses for Britain's bankers and insurance workers have increased double the pace of those for the total workforce last year, data shows.

British banks approve fewer home loans

2014-08-26 13:30

British banks have approved fewer home loans in July than in June, as tighter rules on mortgages lending introduced in April took the heat off the housing market.

Co-Op Bank loses customers after scare

2014-08-22 14:33

Britain's Co-operative Bank has lost around 38 000 customers in the first half of 2014, following its near collapse last year and a drugs scandal.

SA's banking sector is healthy - Sarb

2014-08-20 07:00

The South African Reserve Bank has disputed Moody's decision to downgrade Standard Bank, FirstRand, Absa and Nedbank and put them on review for further cuts.

Capitec recovers after downgrade

2014-08-19 17:01

In what could be seen as a vote of confidence in Capitec Bank, former CEO Riaan Stassen has bought 5 000 shares to the value of R1 025 000.

Britain's EU exit could spark banks exodus

2014-08-18 10:35

Some Wall Street banks are drawing up preliminary plans, including moving some London-based operations to Ireland, to deal with Britain's possible EU exit.

Capitec slams Moody's downgrade

2014-08-18 07:17

Capitec Bank says the decision by Moody’s to downgrade the bank is a mistake and a kneejerk reaction to the African Bank fiasco.

Winterboer mum over Abil borrowers

2014-08-17 15:39

The curator handling African Bank Investments, Tom Winterboer, says he can't comment about reports that Tami Sokutu put the blame on borrowers for their predicament.

Sarb defends Capitec after downgrade

2014-08-16 16:13

Ratings agency Moody’s has downgraded Capitec Bank, citing a lower likelihood of support from the SA Reserve Bank following the African Bank fiasco.

Hedge fund manager banks R100m on Abil

2014-08-13 23:43

A local hedge fund manager explains how he made R100m profit on African Bank Investments.

Warning over danger of reckless banks

2014-08-12 07:05

Banks that expose themselves to unsecured credit extension do not only put themselves in danger but also hold a threat to the country, says the Freedom Front Plus.

Trade of Abil shares halted on JSE

2014-08-11 09:50

Trade in shares and bonds of troubled South African lender African Bank Investments has been suspended on the Johannesburg Stock Exchange, the bank has said.

Abil: helping hand or reckless lender?

2014-08-08 14:10

While the JSE is still reeling from the shock of African Bank Investments' implosion, Fin24 readers are divided on the merits of its business model.

Taking the fall for Abil woes

2014-08-08 06:59

African Bank's CEO shouldn't carry sole blame for the implosion, says Mzwandile Jacks.

Abil rout weighs on JSE, MTN shines

2014-08-07 13:49

The possibility that the shares in African Bank can become totally worthless is a real possibility as investors continued to dump the shares at any price.

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