Banking

Capitec Bank Q1 FY2025: Strong Capital and Liquidity, Avafin Stake Boost

  • Capitec Bank Holdings reports strong capital adequacy ratios for Q1 FY2025.
  • Liquidity coverage and stable funding ratios exceed regulatory requirements.
  • Acquisition of majority stake in Avafin Holding Limited enhances international presence.

Capitec Bank Q1 FY2025: Strong Capital and Liquidity, Avafin Stake Boost Read More »

FirstRand Reports Strong 2024 Performance, Raises Provision Amid UK Review

  • FirstRand reports stronger-than-expected performance for the second half of FY2024.
  • The group raised an accounting provision related to the UK motor commissions review.
  • Overall credit performance improved, and operating expenses were well managed.

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Absa Ventures into China,

Absa Group’s AGM: Overwhelming Shareholder Support with 99.98% Approval

  • Absa Group’s AGM saw robust shareholder participation, with 66% of total votable shares represented.
  • Strong support for resolutions, including auditor reappointments and director elections, with approval rates exceeding 99%.
  • Notable dissent in the reappointment of René van Wyk to the Group Audit and Compliance Committee.

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Investec Group’s FY2024 Financial Results Exceed Expectations: Revenue Up 5%, Operating Profit Rises 8%

 

  • Investec Group’s FY2024 financial results showcase robust performance amid economic uncertainties, driven by strategic initiatives and operational efficiency.
  • Strategic actions including mergers, divestments, and share buy-backs demonstrate Investec’s focus on portfolio optimization and value creation.
  • Strong balance sheet metrics, ambitious medium-term targets, and prudent liquidity management position Investec for sustained growth and shareholder value.

Investec Group’s FY2024 Financial Results Exceed Expectations: Revenue Up 5%, Operating Profit Rises 8% Read More »

Absa Ventures into China,

Absa Ventures into China, Strengthening African Economic Connectivity

  • Absa Group expands its global footprint by launching a non-banking subsidiary in China, signaling its commitment to fostering stronger economic ties between Africa and China.
  • The move comes as China emerges as Africa’s and South Africa’s largest bilateral trade partner, driven by significant Chinese investment in Africa’s natural resources and infrastructure projects.
  • The newly established office in China will facilitate trade and investment flows between China and Africa, offering advisory services and distributing research reports to corporate and institutional clients in both regions, thereby enhancing connectivity and promoting informed decision-making.

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BNP Paribas,

BNP Paribas Exits South African Banking Market Amid Reshuffle

  • BNP Paribas Ends South African Banking Operations: The article highlights the cessation of BNP Paribas’s banking activities in South Africa, marking a strategic shift towards Europe and Asia.
  • International Companies Exiting South Africa: It discusses a broader trend of international companies, including Shell and BHP, divesting from South Africa, citing governance concerns and portfolio considerations.
  • Opportunities for Local Financial Institutions: The departure of multinational banks like BNP Paribas presents an opportunity for local banks to thrive, fostering competition, innovation, and potentially accelerating credit growth in the South African financial sector.

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