It’s not clear quite what parliament’s trade, industry and competition committee stands to achieve by hauling in the banks to brief it on their transformation efforts. But it might not be such a bad idea, particularly at a time when ill-informed, even dangerous, views about banking are being put about by those pushing back against efforts to liquidate Ithala.

Banking was among the first industries to put a far-reaching, voluntary transformation charter in place more than two decades ago, so it is an industry that is already pretty far advanced along that road...

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