Banks get go-ahead to resume dividends

In a move that is likely to feature heavily in deliberations by the boards of SA’s largest banks ahead of the earnings season, the Reserve Bank has authorised banks to resume the payment of ordinary dividends and short-term executive bonuses.

While the central bank updated its guidance last week, the development came to light only on Monday in a directive authored by Kuben Naidoo, the deputy governor and CEO of the Prudential Authority, the regulator of the bank sector...