ARTICLES RELATING TO FINANCIAL SERVICES

Nedbank, Old Mutual reach milestone in managed separation

2018-04-20 19:06

Nedbank has signed a relationship agreement with Old Mutual Limited regarded as a significant step forward in the managed separation of the Old Mutual Group.

Auditing body issues investigation letter to KPMG’s lead auditor for VBS case

2018-04-14 08:45

SA's auditing regulatory body has issued an investigation letter to Sipho Malaba, KPMG’s lead audit partner for VBS Mutual Bank, notifying him of a probe into the company’s audit of the bank which is currently under curatorship.

Everything consumers need to know about the new financial regulators

2018-04-06 16:03

This week the Twin Peaks model for financial regulation came into force, here's what it means for financial customers.

The ABCs of digital disruption in finance

2018-03-26 06:15

The question for banks today is how to become 'digital banking superstars' and not go the way of the dinosaurs, according to a Citi GPS report on FinTech.

Old Mutual Zim reports 139% growth in PAT

2018-03-23 18:05

Zimbabwe’s biggest financial services group, Old Mutual Zimbabwe, has reported a strong set of results for 2017, with significant growth across the board.

Bank of America said to seek some margin loan sales after Steinhoff loss

2018-03-21 14:13

Bank of America is offloading some margin loans after losing $292m on soured credit to the former Steinhoff chair Christo Wiese, claim people in the know.

Capitec CEO casts shade over short seller Viceroy

2018-03-20 12:23

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.

WATCH: All you need to know about VBS Mutual Bank

2018-03-17 09:00

VBS Mutual Bank has been placed under curatorship, Fin24 unpacks how the bank got to this point.

Deutsche Bank awards staff €2.2bn in bonuses for 2017

2018-03-16 10:02

Deutsche Bank’s bonus pool is almost back to normal, even if little else is.

Old Mutual profits rise as it readies for split by year's end

2018-03-15 12:33

Old Mutual has announced a 22% rise in pre-tax profits for 2017, saying it has "improved the performance of the underlying businesses and set them up for continued future growth".

 

FULL STATEMENT: KPMG's plan to regain 'damaged' trust and place quality and integrity at its heart

2018-04-15 15:23

KPMG South Africa is hoping to speed up its efforts to rebuild public trust as it announced further steps to accelerate significant change at the scandal-hit audit firm.

US insurance company drops case against Old Mutual

2018-04-09 12:14

US insurance company Travelers and its subsidiary have dropped a court case against Old Mutual.

Sanlam stock drops on news of R5.7bn new share issue

2018-03-28 13:39

Sanlam shares fell on Wednesday morning after it announced it had placed 65.5 million new shares to raise some R5.7bn.

Irate customers bash FNB after downtime

2018-03-25 10:54

Scores of FNB customers took to social media to lambast the financial services provider after downtime hit users on Sunday.

Households pose greatest risk for SA banks - S&P

2018-03-21 20:00

Despite low economic growth in SA, S&P Global Ratings expects banks to maintain robust profitability and sound capitalisation in 2018.

SARB's Naidoo: We warned VBS on its reliance of huge depositors

2018-03-20 13:14

SA Reserve Bank registrar Kuben Naidoo has told Parliament’s Standing Committee on Finance that the SARB warned VBS against placing reliance on the ten largest depositors, with municipalities the largest.

Vele Investments on board with VBS Bank curatorship

2018-03-17 11:00

One of VBS Mutual Bank’s major shareholders, Vele Investments, has dropped its legal challenge against the mutual bank’s curatorship.

Old Mutual managed separation no 'big divorce' for Nedbank - CEO

2018-03-16 11:28

Old Mutual Limited will list on the JSE as soon as possible after the release of Old Mutual Plc’s 2017 results, Nedbank Group CEO Mike Brown tells Fin24.

Coovadia on VBS curatorship: SA cannot afford a bank collapse

2018-03-15 17:02

SA cannot afford a a bank collapse while it is on the path of inclusive economic recovery, says Cas Coovadia, MD of the Banking Association of South Africa.

ECB gets tougher on bad loans amid banks' $1trn pile

2018-03-15 11:42

The European Central Bank has told banks they’ll need to be tougher in dealing with bad loans as eurozone lenders continue to grapple with soured debts amounting to almost $1trn.

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