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Most of the assistance comes in the form of a debt repayment holiday.
Absa announced on Sunday that it is introducing a comprehensive customer, business and corporate relief programme.
Nedbank says it will offer individual solutions to clients who are suffering cashflow challenges due to the coronavirus crisis.
The Big Four banks grew earnings by 2.1% in the 2019 financial year, noticeably below the 8.7% they achieved in 2018.
Standard Bank Group's adjusted full-year profit rose 1.1%, missing estimates, as a moribund South African economy weighed on the continent’s largest lender.
Stanlib earned R1.7 billion in net fee income in 2019 and increased its assets under management to R568 billion.
Standard Bank non-executive director and deputy board chairperson Dr Hao Hu has stepped down from the board.
The South African Reserve Bank has imposed administrative sanctions on five major banks due to weaknesses in the banks’ money laundering control measures. This didn't mean they had facilitated transactions involving money laundering, the SARB added.
Cricket South Africa has received a financial blow with the news that Standard Bank will not renew their deal with the organisation when it expires at the end of April next year.
Truworths bought shoe retailer Office for £154m in 2015, but last month wrote down £97m of its value as the retailer continued to struggle in a tough UK market.
Experts say if you can afford to continue repaying your debts, resist the temptation to take a payment holiday, even if you qualify for the relief.
Interest and bank charges will still be charged during the Covid-19 disaster, but individuals earning R7 500 or less per month can get a debt holiday.
The banks says is will set up automatic new payment terms for all its clients with a turnover of less than R20 million per year who are up to date with payments and in good standing.
Standard Bank''s banking operations grew earnings by 5% but at group level, the bank reported a 'disappointing' 1% increase.
The money raised through the green bond will finance climate-related projects like renewable energies, water efficiency and green buildings.
Standard Bank has seen a significant uptake of its new 3-minute overdraft since the launch of the offering in September 2019. Over R460 million has been issued to small and medium-sized enterprises in the period leading to February, 2020.
First it was price. But now banks want to outdo their peers in digital capabilities.
South African Hip Hop sensation, Cassper Nyovest is set to fill up another stadium this year.
According to Solidarity’s 10th annual bank charges report released on Tuesday, banks are now offering better benefits to their customers at lower prices to protect their market share, following fierce competition launched in the banking sector this year.
Banking union Sasbo has been interdicted from proceeding with what would have been the biggest banking strike in 99 years.
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