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Is South Africa Ready for a State-Owned Bank?

17 January 2019

The proposed amendments to the South African Banks Act, published on 7 May 2018 for public comment, and expected to be implemented soon, would pave the way for a state-owned bank to be established on equal footing with privately owned banks. The introduction of a state-owned bank would mean that, for the first time, a state-owned entity would be able to participate fully in the retail and commercial banking sector in competition with the private sector in South Africa.

SA’s middle income consumers spend their monthly income in less than five days

03 December 2018

Approximately 56% of middle income consumers in South Africa spend all their monthly income in five days or less after receiving it. This is according to data from FNB’s Retail segment which categorises middle income consumers as those who earn a gross monthly income of between R7 000 up to R60 000.

Digital entrants are game-changers in SA’s banking industry

03 December 2018

SA’s banking sector is increasingly moving towards a ‘marketplace without boundaries’, shaped by the fast-approaching entry of new digital players challenging the status quo in the market, and driving unprecedented levels of innovation. In response, the ‘four universal banks’ (Absa, FirstRand, Nedbank and Standard Bank) have continued to pursue large-scale transformation programmes aimed at improving customer experience, digital transformation, and new ways-of-working and enterprise-wide cost reduction. These are some of the key highlights from an analysis issued today PwC’s Strategy& on the future of banking in South Africa.

Innovation reigns supreme as insurance meets banking

19 November 2018

Over the years, the shared value approach has proven to be a successful business model for Discovery.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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Discovery introduces the world’s first behavioural bank

14 November 2018

Opening an international banking account is an astute way to stay a step ahead of ongoing currency uncertainty

06 November 2018

VBS Curator reduces costs of the Bank

19 October 2018

Introducing a new way to open an account …Download it!

19 October 2018

Consumers advised to use cheaper banking channels as cost of living soars

03 October 2018

Cheaper alternatives to using cheques

26 September 2018

SA’s major banks produce positive financial results despite continuing operating and economic headwinds

07 September 2018

Corporate Treasurer’s feeling the impact of Basel III as banks get picky about short-term deposits

22 August 2018

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Banking / General