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Financial Services

Rand Merchant Bank urges coordinated effort to soften virus blow

Apr 03 2020 09:00

Rand Merchant Bank urged South African lenders and other finance firms to adopt a more coordinated approach with the government to the economic crisis caused by the coronavirus outbreak.

Financial Services

Five SA banks cut deeper into junk by Fitch

Apr 01 2020 09:54

The credit ratings of South Africa’s five largest banks were downgraded deeper into junk territory by Fitch Ratings, which cited a deteriorating operating environment following the outbreak of the novel coronavirus.

Financial Services

New leadership will propel Sanlam forward, says outgoing CEO

Apr 01 2020 06:04

The outgoing Sanlam CEO and chairman say they have no doubt that the new recruits who were announced on Tuesday morning will take the company to new heights. And their remuneration will be based on what they’ve personally contributed to the business rather than how market forces affect the company.

Financial Services

Desperate insurers use loopholes to sneak in business during lockdown, says watchdog

Mar 30 2020 21:15

The Financial Sector Conduct Authority has warned that insurers who continue with non- essential services like collecting blood samples for underwriting purpose are worsening the burden of laboratories and will be subjected to "appropriate regulatory action".

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