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Financial Services

Khaya Gobodo to succeed Dave Macready at Old Mutual Wealth and Investments

Nov 13 2018 14:58

Old Mutual Investment Group Managing Director Khaya Gobodo will take over the reins from Dave Macready at the wealth and investments division.

Financial Services

Motsepe starts online challenge to SA banks

Nov 09 2018 20:33

TymeBank, owned by billionaire Patrice Motsepe, has started signing up customers for its new online bank, one of several entrants planning to take clients from traditional lenders.

Financial Services

Reserve Bank fines HSBC for poor controls preventing money laundering, terrorism

Nov 09 2018 19:14

The SA Reserve Bank's Prudential Authority has disciplined HSBC Bank Johannesburg for weaknesses in its processes that prevent the bank from "proactively detecting potential money laundering and the financing of terrorism".

Financial Services

China banks plunge on concern lending targets are a step too far

Nov 09 2018 12:15

China’s biggest banks have dragged down the stock market as investors took a dim view of the government’s unprecedented move to tell firms exactly how much they must lend to the country’s struggling private sector.

Financial Services

Discovery launches R1.85bn bookbuild as bank plans move forward

Nov 08 2018 19:23

Discovery has launched an accelerated bookbuild offering of new shares to raise up to R1.85bn, which it plans to use, in part, to buy out FirstRand's interest in Discovery Bank.

Financial Services

Ramaphosa: VBS can rise from the ashes

Nov 06 2018 14:51

VBS should serve the poor and those in rural areas as it was intended to - once it has risen "from the ashes", President Cyril Ramaphosa has said.

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Financial Services

SARB, Treasury caught on late to illegal VBS deposits - Nene

Nov 02 2018 19:59

National Treasury and the Reserve Bank only realised in 2017 that the municipal deposits into VBS Mutual Bank were illegal, former finance minister Nhlanhla Nene has said.

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