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France's BNP bids for Italian bank 2006-02-06 06:00:01 BNP Paribas, France's largest bank by market value, has offered about e9 billion (R67 billion) for Banca Nazionale del Lavoro (BNL) after Italy's central bank rejected a bid for the Rome-based lender by a local rival. [Full Story...] Standard Bank buys Andisa unit 2006-01-25 06:00:01 Standard Bank Group bought the part of Andisa Capital's stockbroking unit it did not already own for an undisclosed sum. Standard Bank already owns 76.6 percent of Andisa, which it started in April 2003 by selling its securities and treasury management units to black investors. [Full Story...] Capitec director sells stock worth R9.3m 2006-01-24 06:00:01 Capitec Bank Holdings non-executive director Chris Otto has sold shares worth more than R9.3 million after the stock more than doubled in the past year. Otto had sold 300 000 shares at R31 each on Friday, Capitec said yesterday. [Full Story...] Nedbank's Eyethu nets R740m for BEE 2006-01-20 06:00:01 The Nedbank Eyethu Ownership Plan attracted applications from 47 523 buyers worth R740 million making it the largest retail share scheme in terms of value ever implemented in South Africa. The programme ran from August 15 to November 30 2005. [Full Story...] BBVA hopeful after Italy rejects bank bid 2006-01-12 06:00:01 Spain's Banco Bilbao Vizcaya Argenataria (BBVA) might return to the table after the Bank of Italy on Tuesday rejected Italian insurer Unipol's takeover bid for Banca Nazionale del Lavoro (BNL), analysts said yesterday. [Full Story...] Growth in credit advances is expected to support banking sector 2006-01-11 06:00:01 The continued growth in credit advances is expected to support the banking sector in 2006. Joyce Long, an analyst at Rand Merchant Bank, said the strong rand would continue to benefit the banks. [Full Story...] Capitec gets local investment grade ratings 2006-01-11 06:00:01 Capitec Bank, a provider of small loans that is becoming a full service bank, has been given local investment grade credit ratings by Moody's Investors Service. [Full Story...] Heady times as consumers party and banks toe the line 2006-01-05 06:00:01 Despite concluding a black economic empowerment (BEE) deal, broadening access to banking services and implementing a massive turnaround at a struggling retail bank, Nedbank chief executive Tom Boardman found enough time to jot down the above verse, capturing the essence of 2005 for the local banking industry. [Full Story...] Barclays opens its first branch in China 2005-12-22 06:00:01 British bank Barclays said yesterday that it had opened its first branch in mainland China, joining other foreign banks in a bid to profit from the country's rapid economic growth. [Full Story...] Economists expect no change in interest rates 2005-12-08 06:00:01 The Reserve Bank might leave its benchmark interest rate at a 24-year low today as evidence mounts that inflation was slowing, a survey of economists has showed. [Full Story...] Absa hires former Stanlib boss Miller 2005-12-07 06:00:01 Absa has hired Alan Miller, the former chief executive of Stanlib Asset Management, as the head of investments at its financial services unit. [Full Story...] Barclays shares hit by bad debt concerns 2005-11-29 13:01:01 A trading update has raised bad debt fears at Barclays, despite reassurances by Britain's third-biggest bank that it will continue to deliver strong profit growth. [Full Story...] Denel gets warning on Indian deal 2005-11-28 06:00:01 The State Bank of India (SBI) indicated on Friday that it would take further legal action against Denel and Absa, which issued a guarantee on Denel's behalf, if Absa did not cough up R27 million as repayment of advances made by the Indian government. [Full Story...] Nigerian central bank auctions $100m 2005-11-25 06:00:01 The Nigerian central bank yesterday offered $100 million (R655 million) to retail banks in its fifth special foreign exchange auction this year. The wholesale auction was intended to curb excess liquidity in the banking system ahead of the release of budgetary allocations for November, but traders said liquidity was already tight. The special auctions began in August in an effort to curtail surging money supply and rein in inflation. [Full Story...] Absa opens Red Door in the Cape 2005-11-24 06:00:01 Absa Bank, in granting finance to small businesses that obtained Western Cape provincial government contracts, would use its partnership with the province in skills development and mentoring to mitigate credit risks, Grant Abrahams, the bank's regional manager for emerging markets, said yesterday. [Full Story...] Saambou two object to trial delay 2005-11-23 06:00:01 Two of the three men facing charges related to the collapse of Saambou Bank are to bring an application in the Pretoria regional court next week to stop further postponements of their pending trial. [Full Story...] Inflation in range - Mboweni 2005-11-22 06:00:01 Reserve Bank governor Tito Mboweni said yesterday inflation would probably remain within the bank's target range for the next three years, peaking at slightly above 5.5 percent next year. [Full Story...] Absa records strong growth 2005-11-21 09:53:01 The bank group says it is 'delighted' with its half-year performance and has been able to raise its interim dividend by almost 69 percent. [Full Story...] Good economic times help African Bank post solid results 2005-11-15 06:00:01 African Bank, the country's largest provider of small loans, posted a 20 percent gain in second-half profit after interest rate and tax cuts spurred borrowing and reduced bad loan provisions. [Full Story...] Nedbank reaffirms forecast on doubling its net income 2005-11-15 06:00:01 Nedbank Group, the country's fourth-largest bank, reaffirmed its forecast that annual net income would at least double as the lowest interest rates in a quarter of a century fuelled borrowing. [Full Story...] Absa tops customer satisfaction survey 2005-11-08 02:06:01 Absa is top of the pops in customer satisfaction, but the big four banks have all seen their ratings slide, according to market researcher Synovate. [Full Story...] Bird flu could cost $550bn - World Bank 2005-11-08 06:00:01 The World Bank said yesterday that a human influenza pandemic sparked by the deadly Asian strain of bird flu could cost industrialised economies $550 billion (R3.9 trillion). [Full Story...] Banks lower private entry thresholds for well-off clients 2005-11-08 06:00:01 Absa Group and Standard Bank Group, South Africa's biggest consumer lenders, have lowered private banking entry thresholds in an attempt to avoid losing customers to smaller rivals as the pool of wealthy clients increases. [Full Story...] Nedbank investment fund registers strong inflows 2005-11-07 11:00:01 More than a R100 million of investors' money has flowed into Nedgroup Investments' 20th unit trust fund, the Nedbank Bravata Worldwide Flexible Fund, since its launch four weeks ago. [Full Story...] Barclays has no buying plans in China 2005-11-07 06:00:01 Barclays, Britain's third-biggest bank, expects its investment banking business in China to grow between 15 percent and 20 percent annually without buying stakes in local banks, the tactic of rivals such as HSBC Holdings. [Full Story...] ABN surprises as it banks bigger profit 2005-10-31 15:50:01 ABN Amro's huge surge in profits marks the third time this year that the Dutch bank has exceeded analysts' expectations of its quarterly results. [Full Story...] JP Morgan in talks to buy Waco 2005-10-27 06:00:01 JP Morgan Partners Asia, a buyout unit of the third-largest US bank, was close to buying local construction equipment maker Waco International, sources said yesterday. [Full Story...] Inflation outlook is worse, central bank official says 2005-10-26 06:00:01 The outlook for South Africa's inflation had deteriorated, Daniel Mminele, the head of the central bank's financial markets division, said yesterday in Tokyo. [Full Story...] Abil launches equity plan 2005-10-25 06:00:01 African Bank Investments Limited (Abil), the largest lender to low-income earners, yesterday launched the first phase of its black equity ownership programme by starting a book-building exercise to raise R76 million for Eyomhlaba. [Full Story...] Mzansi turns one with 2m customers 2005-10-25 06:00:01 The Mzansi bank account initiative, a watershed in the banking industry's progress towards providing services to all South Africans irrespective of what they earn, has drawn 2 million previously unbanked South Africans into the formal banking system in the past year. [Full Story...] |
