Headline earnings: R13 361 million, up 6% Headline earnings per share (HEPS): 837 cents, up 5% Dividend per share: 454 cents, up 6% Common equity tier (CET) 1 ratio: 14.0% (1H18: 13.8%) Net asset value (NAV) per share: 10 511 cents up 8% Return on equity (ROE): 16.2% from 16.8% Cost-to-income ratio: 57.0% (1H18: 57.6%)
The Prudential Authority (PA) has imposed administrative sanctions on Sasfin Bank Limited (Sasfin Bank) for non-compliance with certain provisions of the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act). The FIC Act mandates the PA, in terms of section 45, to supervise and enforce compliance with the provisions of the FIC Act
UnionPay International (UPI) has announced significant progress in the South African retail payments market through their co-operation with Pick n Pay and Absa Bank. Through a tripartite co-operation agreement, Pick n Pay, a major food, clothing and general merchandise retailer, is now enabled to accept UnionPay cards at all of its till points across its
The South African Reserve Bank (SARB) is aware of the assertions made by Africapacity of its intention to buy VBS Mutual Bank (VBS) or part thereof. The authorisation to conduct the business of a bank/mutual bank (banking licence) is not transferable and requires a formal new application for such authority to be submitted to the
The Prudential Authority (PA) has imposed an administrative sanction on Bank of Baroda, South Africa (Bank of Baroda) for non-compliance with certain provisions of the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act). The FIC Act mandates the PA, in terms of section 45, to supervise and enforce compliance with the provisions
A new app created by Hello Paisa makes it possible for Zimbabweans in South Africa to send essential goods and groceries back home. For Zimbabweans who are far from home, ensuring that their family is fed and looked-after is one of their most fundamental goals. This is often easier said than done, when faced with
The acquisition of PayFast further extends DPO Group’s market lead in Africa DPO Group, the leading African Payment Service Provider (PSP) has announced its acquisition of PayFast, one of the largest payment processors in South Africa. The deal by the Nairobi headquartered DPO Group was executed through a mix of shares and cash, with the
Boasting a share of about 40% of South Africa’s commercial, industrial and retail property finance market, Nedbank CIB Property Finance now has its vision firmly focused on the rest of Africa to expand its footprint and, in doing so, achieve the group’s main objective of becoming a transcontinental tour de force. To this end Nedbank
The impact of Digital Banking, Blockchain, AI, Mobile Money, Digital Wallets and Payment innovations are radically transforming the financial services landscape as FinTech disruptors intensify the challenge to Incumbent Banks in Africa and kickstart new growth opportunities. Africa’s financial services landscape continues its dynamic evolution as the rapid growth of FinTech on the continent drives
FNB has revealed that South African consumers are showing strong appetite to save after its customers initiated nearly 20 000 savings goals in just a few days since the launch of the Savings Goals feature on the Bank’s App. To date, some of the top Savings Goals that have been chosen by consumers include: saving
