New banks threaten big four profit

The big four will battle for profit as newcomers start to threaten their market share

The curtain is about to be raised on the next round of financial results, which starts with Liberty Holdings today and carries on for six weeks.

The backdrop will not be favourable: credit demand is growing at just 4% this year yet bank shares soared after the Ramaphosa victory. Managers including Allan Gray then took profits.

Proceed to Source : BusinessLive

Continue reading

These are the six new banks that are opening soon in South Africa

South Africa’s economy may be shaky right now but that has not stopped certain entities from entering the banking sector. It’s been announced that there are six banks that are set to open in South Africa soon.

Institutions like African Bank and Postbank sound familiar. However, it is how they will be transacting with consumers that brings a whole new dynamic into a sector that’s been run by major players like FNB and Standard Bank.

These are the six banks that are opening up in South Africa soon:

Proceed to Source : TheSouthAfrican

Continue reading