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Business brief | African Bank (the bad one) pays its debts, while German EV sales crash

Business brief | African Bank (the bad one) pays its debts, while German EV sales crash
news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.

Germany , German , Debt-services , African-bank , Residual-debt-services ,

'Old African Bank' RDS starts paying more creditors' claims

The curator of the old African Bank has settled the claims of the first group of creditors and has started paying the next set of creditors on the line, disbursing R214 million.

African-bank , Debt-services , African-bank-limited , Residual-debt-services , Abil , Raig-du-plessis , Uratorship ,

5 important things happening in South Africa today

5 important things happening in South Africa today
businesstech.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstech.co.za Daily Mail and Mail on Sunday newspapers.

Saudi-arabia , South-africa , United-kingdom , Russia , Russian , South-african , British , Arthur-fraser , Comair , Security-agency , Debt-services , British-airways

African Bank CEO on his 'audacious' goal: 'We are no longer a micro-lender'

African Bank wants to rely less on unsecured loans. It has set a target to cover 80% of its total expenses from non-interest income by 2025.

Kennedy-bungane , Gustav-raubenheimer , Basani-maluleke , African-bank , Debt-services-ltd , Residual-debt-services ,

Reserve Bank fails to find buyer for African Bank stake

The central bank announced it would dispose of its 50% shareholding given its potential conflict of interests as a regulator

South-africa , South-african , Kennedy-bungane , Basani-maluleke , African-reserve-bank , African-bank , Public-investment-corporation , Debt-services , Women-league , South-african-reserve-bank , Reserve-bank , Residual-debt

African Bank to list on JSE – at the right time

The South African Reserve Bank wants to offload its stake in African Bank, but nobody seems to want it. This does not bode well for the group that started with so much hope and promise in 1975.

South-africa , South-african , Tom-winterboer , Sam-motsuenyane , Basani-maluleke , Stuart-theobald , African-reserve-bank , Sa-banking-inc , African-bank-holdings , National-african-chamber , Government-employees-pension-fund , African-bank

African Bank keeping afloat – The Citizen

Bad news is that new loans are down 37% year-on-year.
That African Bank would swing to a loss for the year ended 30 September, 2020, is not surprising. At the half-year mark, it reported a R111 million net loss after tax after a R550 million Covid-19 impairment in the bank (as well as a R303 million provision in its insurance business). Analysts will surely be scrutinising the unlisted bank’s figures as it continues its recovery for any signs of distress that could be lurking in the books of its larger, listed rivals. READ MORE: Basani Maluleke resigns as African Bank CEO The good news is that the bank was profitable...

Basani-maluleke , African-bank , Debt-services , That-african-bank , Residual-debt-services , கடன்-சேவைகள் , மீதமுள்ள-கடன்-சேவைகள் ,

African Bank: The good, the bad, and the worrying

MONEYWEB
app instead?
Despite some promising indicators, its lending book has clearly deteriorated.
By Moneyweb
27 Jan 2021
00:01
The bankâs credit loss ratio has rocketed, painting a clear picture of a consumer under significant stress. Image: Supplied
That African Bank would swing to a loss for the year ended September 30, 2020, is not surprising.
At the half-year mark it reported a R111 million net loss after tax after a R550 million Covid-19 impairment in the bank (as well as a R303 million provision in its insurance business).
Analysts will surely be scrutinising the unlisted bank’s figures as it continues its recovery, for any signs of distress that could be lurking in the books of its larger, listed rivals.

Basani-maluleke , African-bank , Debt-services , That-african-bank , Residual-debt-services , கடன்-சேவைகள் , மீதமுள்ள-கடன்-சேவைகள் ,