Battle of the banks: Capitec vs Standard Bank vs FNB vs Absa vs Nedbank

As South Africa’s banking sector faces increasing competition from new digital entrants, a fierce battle still rages on among the ‘legacy’ institutions.

Some South Africans are having their cars ‘repossessed’ in shopping malls – what you should know

The Ombudsman for Banking Services (OBS) has seen an increase in complaints from people alleging that their vehicles were repossessed without them signing a voluntary termination letter or being shown a relevant court order.

How much money you would get under South Africa’s planned two-bucket retirement system

Actuarial modelling by the Retirement Matters Committee of the Actuarial Society of South Africa (ASSA) shows that the National Treasury’s ‘two-bucket’ proposal is likely to result in significantly higher monthly retirement income for pensioners.

World Bank on South Africa’s plans to support the unemployed – including a R350 job-seekers grant

The World Bank said South Africa, which ranks among the world’s top 10 spenders on social assistance, could consider a range of reforms to its R156 billion ($15 billion) annual welfare program to make it more cost-effective while expanding support for the unemployed.

FNB to offer R18 million lottery for people who get vaccinated

Banking group FNB has announced financial incentives of up to R18 million over the next three months for customers who get a Covid-19 vaccine.

What to expect from FNB over the next few months

Financial services group FNB says it continues to invest significantly in creating new platform-based capabilities and solutions to ensure that it stays ahead of changing market dynamics and evolving customer needs.

Reserve Bank model shows rate hikes coming for South Africa

South African central bank modelling suggests the need for the gradual lifting of borrowing costs to keep inflation close to the 4.5% midpoint of its target range, and long-term interest rates low.

TymeBank to launch 600 new kiosks and other banking services in Foschini stores

TymeBank has entered into a strategic partnership with retail group TFG (The Foschini Group) that will see the introduction of TymeBank financial products and services both instore and on digital platforms.

Sanlam and Absa to combine investment management businesses

Financial services group Sanlam, and Absa banking group said Tuesday (5 October) that they have reached an agreement to combine their investment management businesses in a transaction which will result in an asset management company with assets under management, administration and advice in excess of R1 trillion.

Nedbank to offer credit cards to low-income earners

Financial services group Nedbank says it has reduced the minimum income required to open a gold credit card account, with the bank actively targeting a low-income customer base.

Capitec goes after Discovery with its own ‘behavioural banking’ model in South Africa

Capitec has seen significant early success with its new ‘Live Better’ programme, a behavioural banking initiative with an automated savings benefit, says chief executive Gerrie Fourie.

Capitec is on a hiring drive for 500 jobs – here’s what they are looking for

Capitec Bank chief executive officer Gerrie Fourie says the bank is still looking to fill hundreds of positions, in jobs ranging from positions for graduates to senior professionals.