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Financial Services

Discovery Bank: How far has it come?

Feb 24 2020 06:04

In the six months following its launch, Discovery Bank attracted 78 000 customers, with a collective 180 000 active accounts. However, with a target of opening at least 500 000 active accounts, Discovery Bank still has a long way to go, and analysts say its pace has been slow.

Financial Services

Blow for Standard Bank, Waco as Constitutional Court rules in competition watchdog's favour

Feb 23 2020 16:31

The Constitutional Court has set aside an earlier decision by the Competition Appeal Court ordering the Competition Commission to grant access to its investigation records before the respondents in two high-profile collusion cases answered the case against them.

Financial Services

HSBC seeks revamp with 35 000 staff cuts in CEO’s 'endgame'

Feb 18 2020 11:00

HSBC Holdings is set to slash about 35 000 of its workforce, and is taking $7.3bn of charges in its most dramatic overhaul under chairperson Mark Tucker.

Financial Services

As competition heats up, Capitec keeps online fees unchanged

Feb 17 2020 19:54

Capitec, the country's biggest bank by client numbers says its fees for digital banking and debit orders will remain unchanged in 2020, in the face of increasing competition to retain clients.

Financial Services

Peter Moyo files urgent application to stop Old Mutual from appointing a new CEO

Feb 16 2020 16:05

Former Old Mutual CEO Peter Moyo has filed an urgent application at the Johannesburg High Court, in order to prevent the financial services company from appointing a new permanent CEO.

Financial Services

Reserve Bank moves ahead with disposal of African Bank stake

Feb 14 2020 10:55

African Bank indicated in 2019 that it was ready to fly without SARB’s wings as it has increased its operating and net profits every year since it came out of curatorship.

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Cuts to the public sector wage bill took centre stage at this year's Budget
 

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