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September 2018
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Posts Tagged ‘Standard Bank’
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September 4, 2018

JUDGES GIVE BANKS A GRILLING OVER HOME REPO PRACTICES

A full bench of the Johannesburg High Court sat last week to deliberate on how and when reserve prices should be applied before repossessed homes are sold at sheriffs’ auctions.

For several legal and human rights groups admitted as friends of the court, this is a pivotal case to decide whether the banks’ right to recover a loan supersedes constitutional protections to dignity and property.

Things did not go well for the banks, who were berated by the judges for arriving in court without proper paperwork, expecting the courts to grant judgments against clients who were behind on their mortgage payments. This follows a number of cases where homes were repossessed by banks [...]

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March 2, 2018

Rand at strongest level in three years

“The rally in the local currency ‘continues unabated it seems and a slight dollar recovery last week has done nothing to dent this’”

The rand continued its winning ways on Monday morning, touching levels not seen since early 2015.

Positive sentiment towards SA was the recurring theme.

Foreigners were net buyers of local bonds to the tune of R12.3bn over the past week, helping the momentum in the rand, which acts a buffer against inflation.

Foreigners have also been aggressive net buyers of the local shares since December when Cyril Ramaphosa became the new of the new leader of the ANC.

With inflation now close to the mid-point of the [...]

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September 20, 2017

South Africa’s big 4 banks remain profitable

The big four South African banks remained profitable despite South Africa’s economic uncertainty, a PricewaterhouseCoopers (PwC) report found.

For the six months ended June, the big four banks reported combined headline earnings of R35.9 billion, up 3.8 percent from the comparable period last year.

The PwC study presented the combined local currency results of Barclays Africa, FirstRand, Nedbank and Standard Bank.  The firm said it did not include other major players like Capitec and Investec because of their unique business mix and reporting periods. Johannes Grosskopf, the financial services leader for PwC Africa, said on Tuesday that despite the range of [...]

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August 4, 2017

R1-million raised for students through crowdfunding

In just a month‚ the crowdfunding initiative to raise funds for South African students by the Feenix Trust in partnership with Standard Bank has raised over R1-million.Standard Bank launches crowdfunding initiative to help with student fees. 25 students have been fully funded and a total of R1‚090‚ 000 has been raised.

“Thank you to all our donors‚ individuals and corporates‚ who have come on board to show their support in improving access to tertiary education for students across the country and‚ in so doing‚ change the face of economic transformation in South Africa‚” said Jayshree Naidoo‚ Interim CEO of the Feenix Trust.

“As a proudly digital bank Standard Bank wants [...]

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