Banks get mixed transformation report card in Basa survey
Banks have received a mixed transformation report card in an industry-sponsored survey, with local lenders making good progress in areas such as preferential procurement and black ownership but falling short on management control.
The 2022 Transformation in Banking Report, compiled by Intellidex on behalf of the Banking Association SA (Basa) for the period 2017-2020, showed lenders met many of the targets set by the Financial Sector Code, though work is still required in some areas. That was despite a 6.4% pandemic-induced economic contraction in 2020 that reduced opportunities for job creation and inclusive growth in the sector...
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