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Financial Services

Capitec adds over 100 000 clients a month

Sep 27 2016 12:07

Capitec Bank says 648 000 new clients have joined the bank in the past six months, and that it now has 7.9 million active clients.

Financial Services

Capitec profits jump 19% as bank lures more clients

Sep 27 2016 09:31

Capitec Bank Holdings, provider of unsecured loans and low-cost accounts, says fiscal first-half profit has risen 19% after attracting more clients and opening new branches.

Financial Services

Futuregrowth standoff with state firms thaws

Sep 26 2016 15:33

The dispute between Futuregrowth Asset Management, Africa’s biggest specialist fixed-income money manager, and South African state-owned firms has started to ease.

Financial Services

Sasfin cautious about SOE lending

Sep 25 2016 09:45

Sasfin was “very concerned” about state-owned enterprises (SOEs) and had turned some of them down for banking and financial services, Sasfin Group CEO Roland Sassoon said this week.

Financial Services

DBSA eyes Brics bank and diversification

Sep 25 2016 06:29

The Development Bank of Southern Africa (DBSA), which largely funds municipal infrastructure, is on the fence about the New Development Bank planned by the Brics group of countries.

Financial Services

French 'rogue trader' to learn if must repay billions

Sep 23 2016 09:20

French "rogue trader" Jerome Kerviel will soon learn whether he must repay Societe Generale the €4.9bn that he lost in a series of disastrous trades.

Financial Services

Old Mutual mulls wealth unit sale

Sep 20 2016 18:35

Old Mutual may drop plans for a listing of its UK wealth management unit because of escalating costs from an upgrade of its investment platform, says a source.

Financial Services

Warning of banks' exposure to sovereign risk

Sep 20 2016 19:24

Ratings agency Moody's expects South Africa's banking sectors to have a challenging operational environment in the coming year.

Financial Services

Foord obtains Swiss licence

Sep 20 2016 10:54

SA asset manager Foord Asset Management has received a licence from the Swiss Financial Market Supervisory Authority to distribute its funds in Switzerland.

Financial Services

Investec forecasts decline in operating profit

Sep 19 2016 17:29

Operating results in the six months through September are expected to be "slightly behind" the prior year, says Investec.


Financial Services

Deutsche Bank to fight $14bn demand from US

Sep 16 2016 18:30

Deutsche Bank plans to fight a $14bn demand from the US Department of Justice to settle claims it missold mortgage-backed securities.

Financial Services

RBS shares hit after hefty Deutsche Bank fine

Sep 16 2016 18:16

Royal Bank of Scotland shares have fallen after US authorities demanded $14bn from Deutsche Bank to settle mis-selling claims.

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