The arms deal judgment will have implications for future commissions of inquiry. The Gauteng High Court in Pretoria set aside the findings of the 2015 Seriti commission report into the billion-rand arms deal.
Light rain. More sun than clouds. Cool.
There will always be competitors in the banking sector, but one can use challenges as opportunities, Capitec CEO Gerrie Fourie tells Fin24.
For the third year in a row, Capitec Bank was ranked the top South African bank in the Lafferty global rankings and came in third overall in the world.
The bank reported a 20% rise in half-year profit on Tuesday, with the lender’s client base rising to 10.5 million people.
The Viceroy report had no impact on Capitec bank’s financial performance, CEO Gerrie Fourie says, as the lender posted an 18% rise in annual profit.
Capitec, which has grown to become the country’s second-largest bank by customer number, announced new fees for 2018. Have a look at the changes.
Capitec posted a 19% increase in headline earnings per share and added 14 000 new credit card clients per month in the year ended February 28, 2019.
Capitec CEO Gerrie Fourie isn’t too concerned about the land reform debate, which could see a change to the legislation protecting property rights - saying "we will get a responsible answer to that question".
Capitec CEO Gerrie Fourie highlights the way credit life cover is charged as one of two areas that need urgent attention in the unsecured lending market.
Capitec Bank CEO Gerrie Fourie told Parliament’s Standing Committee on Finance that much of the financial services market was better off for the arrival of Capitec.
Capitec has defended the robustness of its loan book, while US-based short seller Viceroy Research criticised the SARB for vouching for the SA bank.
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