ARTICLES RELATING TO BANKS

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
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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.

Moody's downgrades outlook on UK banks

2014-08-05 14:44

Moody's has revised down its outlook on British banks, saying regulations to prevent taxpayers having to stump up funds to rescue failing banks make them more risky.

HSBC issues profit warning

2014-08-04 11:44

HSBC is expected to report an 11% fall in profit for the first half of this year, hurt by falling revenues in a pared down business.

Star bankers, traders ditch big US banks

2014-08-03 14:26

Crippled by lawsuits, US banks are grappling with an exodus of its best bankers and traders, lured by the huge salaries of hedge funds.

UK banks face break-up threat

2014-07-18 10:55

Britain's big banks could be broken up, after the country's new competition watchdog says it plans to launch an 18-month investigation.

Church of England severs ties with Wonga

2014-07-11 07:58

The Church of England has ended its association with high-interest online lender Wonga that came under scrutiny for sending customers bogus letters.

Vatican bank to restructure

2014-07-08 10:25

The Vatican bank will soon hive off its investment activities and dedicate itself mostly to payment services for the Roman Catholic Church, sources say.

We have ample funding for US fine - BNP

2014-07-01 09:57

BNP Paribas executives say the bank has ample funding to back the almost $9bn fine and penalties it must pay after pleading guilty to criminal charges.

Run on Bulgaria bank causes panic

2014-06-30 12:11

Dozens of depositors have withdrawn savings from Bulgaria's third biggest bank despite assurances from the government and the European Union.

Bulgaria arrests 3 more over bank run

2014-06-29 15:30

Three more people have been arrested in Bulgaria on suspicion of plotting to destabilise the country's banking system.

S&P downgrades four SA banks

2014-06-19 06:40

Standard & Poor's has lowered the ratings of four big South African banks, following a similar rating action on the country's long-term foreign currency rating.

African Bank plans turnaround

2014-05-11 15:00

The head of African Bank Leon Kirkinis says he has a recovery plan for the financial institution, following multi-billion rand losses.

Barclays to wield axe in a major shake-up

2014-05-06 16:45

Scandal-hit Barclays bank has revealed that first-quarter profit almost halved at its embattled investment banking arm, where the group is set to axe jobs.

Eurozone banks face toughest test yet

2014-04-27 17:23

Deflation fears, emerging markets turmoil and a determination to avoid past mistakes mean European regulators are likely to set the toughest tests yet for banks.

 

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.

Wall Street banks take heart from loan exams

2014-08-05 11:00

Wall Street banks have found a US review of their junk-rated loans to have yielded similar results to last year, easing some concern among bankers.

Central banks may part ways on rates

2014-08-03 16:34

After the Federal Reserve maintained its path towards raising US interest rates next year, other major central banks will jostle for space on a crowded stage this week.

Russian banks dismiss investor fears

2014-08-01 10:22

Russia's three largest banks have sought to convince investors that they are able to meet obligations, despite their inclusion on the EU's sanction list.

Brics set up $100bn bank to break Western grip

2014-07-16 07:46

Leaders of the Brics nations have launched a $100bn bank and a currency reserve pool in a step towards reshaping the Western-dominated global financial system.

Want euros in London? Don't ask your bank

2014-07-08 11:45

Surveys show consumers tend to seek travel money from bureau de change booths in preference to banks because the rates are better.

Aus bank chief sorry for financial scandal

2014-07-03 10:53

The head of Commonwealth Bank, which is Australia's biggest bank, says he was "truly sorry" for a major scandal in which thousands lost their life savings.

Bulgaria's bank crisis eases

2014-06-30 16:01

Bulgaria's banking crisis has eased with fewer depositors queueing to withdraw savings after European Commission gave Sofia the green light.

US to unveil record $9bn fine for BNP

2014-06-30 07:42

The US Justice Department is expected to announce a settlement with BNP Paribas involving a record fine of nearly $9bn over alleged US sanctions violations.

ECB will regulate units of Russian banks

2014-06-27 19:48

The European Central Bank will supervise and run health checks on the Austrian arms of Russia's two largest banks.

77 000 banks to share tax info with US

2014-06-02 18:06

More than 77 000 foreign banks have agreed to share information about US account holders as part of a crackdown on offshore tax evasion.

HSBC bank net profit slides

2014-05-07 11:56

Bank giant HSBC's net profit has fallen in the first quarter as lower revenues offset cost cutting but bad debt charges also dropped.

Goldman bucks international Russia trend

2014-05-06 13:15

US bank Goldman Sachs has invested $100m in a Russian real estate firm, bucking the trend of international investors draining money from the country.

Get free petrol from your bank

2014-04-27 12:04

A quick survey of the large retail banks shows that motorists have to date received more than R300m worth of free petrol.

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