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Financial Services

Deadline to recoup PIC investment in AYO extended to 60 days

Mar 19 2019 19:53

The Companies and Intellectual Property Commission and the Public Investment Corporation have reached an agreement to extend the deadline for the asset manager to recoup the R4.3bn it invested in AYO.

Financial Services

Sasfin interim earnings jump 60%

Mar 19 2019 20:44

Sasfin has posted a 59.89% growth in headline earnings for the six months to December 2018.

Financial Services

Deutsche Bank and Commerzbank say they're in merger talks

Mar 17 2019 16:08

Deutsche Bank AG and Commerzbank AG agreed to enter into formal merger talks as both lenders run out of time to show they can grow on their own.

Financial Services

'We like competition' – FNB CEO on new entrants in banking sector

Mar 13 2019 05:00

"We want to win Wimbledon when Federer is playing, not when novices play," the FNB CEO has said of the competition posed by new banks like TymeDigital, Bank Zero, and Discovery Bank.

Financial Services

PIC liquidated stocks in order to fund AYO

Mar 12 2019 13:42

The PIC had to liquidate other assets in order to free up funds for the R4.3bn investment in AYO Technology Solutions, the PIC commission of inquiry heard on Tuesday.

Financial Services

Pensioners subsidising deals that lack 'investment rationale', PIC inquiry hears

Mar 11 2019 15:59

Government pension fund holders are subsidising BEE deals conducted by the Public Investment Corporation without a strong investment rationale, according to evidence heard by the inquiry probing the affairs of asset manager.


South Africa

Absa sees revenue growth overtaking costs in 2019

Mar 11 2019 08:30

South Africa’s third-largest lender, is forecasting that its revenue growth in 2019 will outpace that of cost increases after slower economic growth and a battered consumer weighed on its ability to generate income.

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