Reserve Bank takes steps to ease bank lending

2020-03-28 16:15

South Africa’s banking regulator has published proposals to drop the minimum capital requirements and compulsory reserve funds for lenders to boost credit to counter the economic risks caused by the coronavirus pandemic.

Zimbabwe banks close branches, suspend some services after first Covid-19 death

2020-03-24 20:40

Several Zimbabwean banks have seen closures at some of their branches, while others are no longer accepting physical documents, as the southern African country ramps up preventive measures against the spread of the coronavirus pandemic.

Standard Bank deputy chair steps down

2020-02-24 19:05

Standard Bank non-executive director and deputy board chairperson Dr Hao Hu has stepped down from the board.

Banks and financial apps in South Africa are sharing your personal information - here’s how to stop them

2019-11-30 06:44

Financial institutions around the world sell data about customer spending habits. Here's how FNB, ABSA, Capitec, Nedbank, and Standard Bank approach privacy – and what you can do to protect yours.

S&P lowers outlook on SA banks

2019-11-27 19:49

The outlook of S&P on South African banks - including the government-owned Development Bank of South Africa - is now negative, in line with the rating agency's downgrade of its outlook on the SA sovereign.

Bruce Whitfield: Machines promise a ‘golden age’ for banking – and that is very bad news for bank employees

2019-10-03 10:33

200,000 jobs will go in the US the next decade, replaced by Artificial Intelligence (AI) and machines - South Africa is next.

An astronaut may have committed the first space crime while aboard the International Space Station

2019-08-24 20:00

Summer Worden noticed her account had been accessed from a NASA computer before she concluded that it was her estranged spouse in space.

Zimbabwean banks plan to fight $100m Paynet lawsuit

2019-08-08 09:43

Zimbabwean banks intend to fight a $100m lawsuit brought by Cambria Africa's units in the country following a dispute over payments, court filings show.

FirstRand to lose 4 directors due to Reserve Bank directive

2019-07-02 17:54

FirstRand Bank is facing the retirement of four of its board members, but has managed to negotiate a reprieve for its chair, the group said on Tuesday.

Forex collusion case back in the spotlight at Competition Tribunal

2019-06-12 05:00

The matter dates back to 2017 when the Competition Commission referred a collusion case involving 17 banks to the Tribunal. Three domestic banks – Absa, Standard Bank and Investec were among those named.


Lockdown | Banks to waive ATM penalty fees, offer customers a helping hand

2020-03-26 15:44

Banks have taken a number of steps to soften the blow of lockdown on customers, including waiving Saswitch penalty fees at ATMs and minimising branch closures, the Banking Association of South Africa has said.

11 firms being investigated for price gouging in coronavirus crisis

2020-03-24 12:47

Firms found to be abusing the coronavirus crisis by charging consumers excessive prices for products could face penalties of R1 million or up to 10% of their turnover.

Infamous 'Silence' bank hackers thought to hit local shores, warns cyber lab

2020-01-13 20:31

An infamous Russian-speaking hacking group referred to as Silence is the likely culprit making thousands of attempts to hack major banks in sub-Saharan Africa, says Kaspersky Lab.

FirstRand commits to disclosing fossil fuel exposure

2019-11-28 13:19

FirstRand Ltd., Africa’s biggest bank by market value, has committed to disclosing its fossil fuel-related assets and lending but said it can’t meet a deadline requested by some investors.

Here’s how Bank Zero’s patented debit cards work – and why your card number will never have to change

2019-11-13 12:14

Bank Zero has patented debit cards that have three different numbers, two of them invisible, which it says will make life a lot easier for customers when it launches in 2020.

Warning: Criminals are impersonating SA CEOs and other execs to steal money

2019-09-25 09:30

Criminals impersonate senior managers and send email requests to junior staff in the accounting or finance function requesting that an urgent payment be made to a specific beneficiary.

5 questions on the 'debt relief bill' unpacked

2019-08-17 10:02

The "Debt Relief Bill" allows low-income workers to extract themselves from debt through debt restructuring if they earn a gross income of R7 500 or less per month, have unsecured debt of R50 000, or have been found to be critically indebted.

Nigeria orders banks to loan more money

2019-07-04 16:47

In an effort to boost economic growth in Africa’s most-populous country, Nigeria is giving its banks a choice: lend more money, or hand it over to the central bank and earn nothing on it.

Commission ordered to revise its forex price-fixing case against 23 banks

2019-06-12 13:48

The matter dates back to February 2017, when the commission referred a forex collusion case initially involving 17 banks to the tribunal for adjudication.

Competition Commission recommends go-ahead for Absa, Société Générale deal

2019-05-31 11:10

The Competition Commission has recommended to the Competition Tribunal that it give the green light to a proposed merger that will see Absa acquiring target assets from Société Générale.

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