Standard Bank [JSE:SBK] says lower transaction volumes due to depressed spending during the lockdown, coupled with decreased loans and debt relief for customers have negatively impacted its earnings by some R2 billion.In June, Africa's largest lender had already detailed in another trading update how the lockdown had put the brakes on ATM volumes. It added then…
Kuben Naidoo Freddy Mavunda/Business Day South African banks will probably have to raise further provisions for bad loans as measures to contain the coronavirus weigh on the struggling economy, hindering the ability of customers to repay loans."We have a pretty good handle on the banks’ estimates of non-performing loans and they have all raised provisions…
As a voting block, four major banks have the majority when it comes to voting on a rescue plan for SAA.A legal point of debate centres on whether they can really be regarded as being independent creditors as required by the Companies Act.This is because they hold government guarantees for the total of R16.4 billion…
A worried owner of a small business. Most banks offered a three-month debt repayment holiday from March/April. But this will end in June.Yet the latest survey by TransUnion shows 91% of respondents are worried about their ability to repay their debts and bills.Absa, FNB, Nedbank and Investec have said they will work with their clients,…
Kataza the baboon. Facebook / Baboon Matters The City of Cape Town has asked the public not to feed a baboon that has relocated to Tokai. The baboon, known as Kataza or SK11, is slowly being integrated into the Tokai troop. Video footage, however, shows humans feeding Kataza. The City of Cape Town has requested that Kataza…
As SA Rugby moves to determine which franchises will go to Europe in future, Rassie Erasmus has noted several potential benefits for the local game should that route be followed.The national director of rugby believes the high world rankings of Wales, Ireland and Scotland mean PRO Rugby is competitive and that fans will eventually identify…
(John Finney Photography/Moment/Getty Images) An abnormally bad season of weather may have had a significant impact on the death toll from both World War I and the 1918 Spanish flu pandemic, according to new research, with many more lives being lost due to torrential rain and plummeting temperatures. Through a detailed analysis of an ice…