MPs leery of pace of change at SA’s banks
Major banks highlight how much they are adding to transformation
05 February 2025 - 05:00
The banking industry and financial sector regulators failed to convince MPs from across the political spectrum on Tuesday about industry transformation.
Representatives from the Prudential Authority of the Reserve Bank, the Financial Sector Conduct Authority, Banking Association SA (Basa), Nedbank, Standard Bank, Absa, FNB, Investec and Capitec appeared before a joint meeting of parliament’s trade, industry & competition committee and the standing committee on finance to report on lending practices and progress made in transforming the sector, which has total assets of about R8-trillion...
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