Bank accounts for South Africa’s wealthy – what they offer
Discovery’s recent financial results show how it is carving into South Africa’s affluent market, accounting for a 20% market share of people who earn R100,000 or more each month. Despite some banks targeting the low to the middle-income bracket in recent years with low-cost or zero-fee accounts like Nedbank’s MobiMoney or Standard Banks MyMo Account, […]
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These are the biggest risks to South Africa right now: Reserve Bank
South Africa remains vulnerable to spillover effects of global events, particularly the Russia-Ukraine war and global stagflation concerns, says the South African Reserve Bank (SARB). Presenting its latest financial stability review on Wednesday (25 May), the central bank noted that the most likely channels through which South African financial stability could be impacted are the […]
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African Bank returns to profitability
African Bank has published its financial results for the year ended September 2021 showing a net profit of R534 million, compared to a prior loss of R27 million. The return to profitability for the group was largely attributable to upfront higher credit impairments raised a year ago being sufficient to account for the increased risk […]
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