
<p>JOHANNESBURG (Reuters) &#8211; South Africa’s government may temporarily ban lenders from blacklisting consumers whose credit records have been hit by the coronavirus crisis, a consultation document published by the main opposition party showed.</p>



<p>The Department of Trade (DTI) document said it was considering banning blacklisting and ordering the removal of any adverse information on consumers’ profiles, until Sept. 30 or when a national state of disaster ends, whichever comes first.</p>



<p>“The regulations are aimed at assisting all consumers who are negatively affected by the national state of disaster &#8230; and subsequently have had their credit records deteriorating,” said the document, published by the opposition Democratic Alliance (DA).</p>



<p>The changes would be backdated to April 1, the document said, giving lenders until July 24 to submit written responses.</p>



<p>“Government will carefully consider any proposals &#8230; and will take all views into account before making a decision,” the DTI said, adding Trade Minister Ebrahim Patel would not consider the draft document until the consultation was complete.</p>



<p>The DA said the changes would hit banks’ lending appetite, pushing up the cost of credit, and allow already indebted South Africans to rack up further borrowings.</p>



<p>Separately, Standard Bank (<a href="https://www.reuters.com/companies/SBKJ.J">SBKJ.J</a>) and Investec (<a href="https://www.reuters.com/companies/INVP.L">INVP.L</a>) (<a href="https://www.reuters.com/companies/INLJ.J">INLJ.J</a>) have started offering government-backed coronavirus loans under adjusted terms to allow more firms to access funds, their websites showed, including removing a cap on turnover.</p>



<p>Lenders and the government have been looking to boost take-up of an up to 200 billion rand ($12.17 billion) government scheme to drive lending to coronavirus-hit businesses. Only 10.6 billion rand had been paid out by July 7.</p>



<p>Standard Bank confirmed customers could now access the loans under adjusted terms but had no further comment. Investec and other major banks had no immediate comment.</p>


money-bill-note-south-africa

South Africa may stop lenders blacklisting borrowers during pandemic


<p>A multi-billion rand loan guarantee scheme announced by South African President Cyril Ramaphosa last month is now officially in operation, with the assistance of the country’s major banks, including FNB, Investec, Standard Bank and Absa.</p>



<p>Ramaphosa announced the scheme as a measure to soften the blow of the <a href="https://www.cnbcafrica.com/videos/2020/05/13/how-african-economies-will-reawaken-from-the-covid-19-nightmare/">coronavirus pandemic </a>and national lockdown on banks as well as their individual and business clients.</p>



<p>The following statement provides more information:</p>



<p><strong>LOAN GUARANTEE SCHEME OPENS</strong></p>



<p>The Covid-19 loan guarantee scheme announced by President Cyril Ramaphosa in April will operate from today, 12 May 2020. The initial set of participating banks (Absa, First National Bank, Investec, Mercantile Bank, Nedbank and Standard Bank) are ready to accept loan applications from eligible businesses which bank with them.</p>



<p>The activation of the loan guarantee scheme follows the finalisation of legal details by National Treasury, the South African Reserve Bank and the Banking Association South Africa.</p>



<p>The loan guarantee scheme is an initiative to provide loans, guaranteed by government, to eligible businesses with an annual turnover of less than R300 million to meet some of their operational expenses. Funds borrowed through this scheme can be used for operational expenses such as salaries, rent and lease agreements, contracts with suppliers, etc.</p>



<p>Government and commercial banks are sharing the risks of these loans. Initially, the National Treasury has provided a guarantee of R100 billion to this scheme, with the option to increase the guarantee to R200 billion if necessary and if the scheme is deemed successful. Eligible businesses should contact their primary or main banker.</p>



<p>More details on the scheme can be found in a Frequently Asked Questions guide posted at <a href="http://www.treasury.gov.za/">http://www.treasury.gov.za/</a>&nbsp; <a href="https://www.resbank.co.za/">https://www.resbank.co.za/</a> Pages/default.aspx and <a href="https://www.banking.org.za/">https://www.banking.org.za/</a>.</p>



<p>Further queries should be directed to the individual banks, which are administering the scheme.</p>



<p>Jointly issued by National Treasury, The South African Reserve Bank and The Banking Association South Africa</p>



<p>Date: 12 May 2020</p>



<p>For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a></p>


Here’s how to apply for SA’s COVID-19 loan guarantee scheme


<p><strong>STANDARD BANK EXTENDS INSTALMENT RELIEF MEASURES TO
PERSONAL ACCOUNT CUSTOMERS</strong></p>



<p><strong>29 March 2020:</strong> Standard
Bank has announced a second wave of relief to help its customer base navigate
financial commitments as Covid-19 continues to impact the livelihood of many
individuals across the country. </p>



<p>The payment reprieve is aimed at
easing the financial burden of customers earning R7&nbsp;500 or less, who will
receive three-month instalment relief if they are not in arrears on any of
their accounts (as at 31 March 2020). This relief applies to qualifying
customers and their associated accounts, which include home loan, vehicle and
asset finance, credit cards as well as short term loans. Customers who opt for
the relief will see their interest and bank charges capitalised over the term
of their loan agreements. </p>



<p>This second round of relief comes
after Standard Bank’s announcement last week that it would be instituting
instalment relief for both SMEs and fulltime students who have taken out loans
at the bank. The bank’s small enterprise clients with a turnover of less than
R20 million were granted a three-month instalment relief on their business loan
repayments. The latest instalment relief measure will further assist business
owners who bank with Standard Bank in their personal and business capacity. </p>



<p>The three-month instalment relief
will be available on 1 April 2020 until end June 2020. Customers need not
contact the bank to initiate the offer, however, customers can continue to pay
their accounts as usual should they not want to take up on the relief offer
made by Standard Bank. </p>



<p>Our customers’ financial
wellbeing remains our concern. Customers who are in financial distress and not
included in the three-month instalment relief offer, should contact the bank as
soon as possible by email on&nbsp; <a href="mailto:debtcarecentre@standardbank.co.za">debtcarecentre@standardbank.co.za</a>
or call us.</p>



<p>Funeka Montjane, Chief Executive,
Personal and Business Banking, Standard Bank South Africa, says: “At Standard
Bank, we are continuously looking for ways to provide the necessary assistance
to our customers who have been impacted negatively by the Covid-19 pandemic.”</p>



<p>Standard Bank is collaborating
with other government initiatives that have been started to support small
businesses and their employees. Qualifying employers and employees will also
get relief from initiatives like the Solidarity Fund. </p>



<p>“We are committed to helping
those who are vulnerable at this time. It is critical that we try to ease their
financial burden and do what we can to prevent somebody from losing their home
or having to close their business. We continue to work with the industry and
regulators to ensure that we can solve some challenges systemically and we will
play our part responsibly to support government and the country,” says Ms
Montjane.</p>



<p>Furthermore, the banking sector
has collectively&nbsp;decided to waive Saswitch fees during the lockdown. This
means that a customer can use any ATM, including those offered by competing
banks and only pay the usual fees charged.</p>



<p>Standard Bank continues to evaluate
the current financial climate with a keen focus on how the bank can continue to
guide consumers through these difficult economic times.</p>



<p>“We will work tirelessly to find solutions that ease their financial burden in these times. We are here to help those who contribute to our society so that we can support economic growth in South Africa,” concluded Montjane.</p>


Standard Bank extends instalment relief measures to personal account customers

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<p>As South Africa braces itself for President Cyril Ramaphosa’s address this evening the number of cases have risen to 402. Businesses are in distress and many are looking to the banks for relief. One of the first to offer assistance to its clients was Standard Bank. Funeka Montjane, Chief Executive, Personal and Business Banking, South Africa at Standard Bank joins CNBC Africa for more</p>


Standard Bank unveils measures to mitigate COVID-19 impact on its customers

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CNBC Africa spoke to Standard Bank CEO, Sim Tshabalala about his results which saw the company’s full-year headline earnings per share increase by 1 per cent to 1.766c.</p>


Standard Bank CEO Sim Tshabalala on results

Standard Bank CEO Sim Tshabalala on results, COVID-19 & SA’s economic outlook

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Standard Bank of South Africa has made a R750 000 cash donation to China in a bid help the mainland country tackle COVID-19. CNBC Africa&#8217;s Karabo Letlhatlha spoke the CEO, Sim Tshabalala for more.</p>


Standard Bank donates R750 000 to help combat COVID-19

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<p>This is an important time for Africa – with the continent being focused on achieving the Sustainable Development Goals (SDGs) by 2030 and with the Africa Continental Free Trade Agreement (AfCFTA) is gaining traction to drive intra-Africa trade. This is the opinion of Sola David-Borha, Chief Executive Officer of Africa Regions at Standard Bank, who spoke to CNBC Africa’s Kenneth Igbomor.</p>


Africa Investment Forum: Standard Bank: Its prime-time to drive intra-Africa trade through SDGs & AfCFTA

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<p>The U.S-China trade war and Brexit have caused much chaos amongst global markets over the past few weeks and joining CNBC Africa to discuss the impact of these geopolitical conflicts on South Africa is Steven Barrow, Standard Bank’s Head of G-10 Strategy.</p>


How the U.S-China trade war, Brexit impacts SA’s economy

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<p>Climate Change cannot be put off for decades. It is here and now, impacting countries across Africa from Zimbabwe to Zambia. Recognising this Standard Bank has joined the coalition of 130 global financial firms in agreeing to align their business with international efforts to address climate change and other environmental issues. The group that signed on to the United Nations’ Principles for Responsible Banking represents $47 trillion in assets. Sola David-Borha, Standard Bank Group’s Chief Executive for Africa Regions joins CNBC Africa for more.</p>


How banks can align their business strategies to fighting climate change

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<p>Africa’s biggest bank by assets Standard Bank has invested $4 million into South African Fintech Company Nomanini. Nomanini technology connects informal merchants with distributors via an e-wallet and standard bank will use this technology to collect data on the informal retail economy. They hope to bring their joint service across 14 African countries by 2021. Joining CNBC Africa for more is Vahid Monadjem, CEO of Nomanini, and Adrian Vermooten Head of Digital in Africa Regions from Standard Bank.</p>


Standard Bank, Nomanini partner to access Africa’s informal retail economy

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<p>Africa&#8217;s largest lender by assets Standard Bank is reporting a 5 per cent rise in first-half profit. Headline earnings per share came in at an improved 837.4 cents, up from last year&#8217;s 794 cents. CNBC Africa&#8217;s Kopano Gumbi spoke to Chief Executive, Sim Tshabalala about the growth, exiting Argentina and does SA need an IMF bailout.</p>


Standard Bank looks to Africa for growth


<p>JOHANNESBURG (Reuters) &#8211; South African lender Standard Bank shrugged off the impact of a faltering economy in its home market as its extensive operations across the continent helped the company to a 5% increase in first-half profit.</p>



<p> Standard Bank has been expanding in some of Africa’s fastest-growing economies even as its domestic operations struggle in the face high personal debt and widespread unemployment in its home market. </p>



<p>Like rival Nedbank, Standard Bank delivered flat earnings at its South African personal and business banking business. Elsewhere on the continent, Standard Bank &#8211; Africa’s largest lender by assets &#8211; more than doubled earnings in personal and business banking.</p>



<p>“Whilst there may be headwinds in certain markets, the diversity of our businesses and breadth of our footprint provide us with some shelter,” CEO Sim Tshabalala said in a statement.</p>



<p>Headline earnings per share (HEPS) &#8211; the main profit measure in South Africa &#8211; came in at 837.4 cents ($0.5591), against 794 cents in the same period last year. That 5% increase was slightly better than the 3% posted by Nedbank on Wednesday and helped to lift Standard Bank shares by 1.2% in morning trade.</p>



<p>Standard Bank’s pivot back to Africa after its failed foray into global emerging markets has paid off in other ways, too.</p>



<p>The lender said it would exercise an option to dispose of its 20% stake in the Industrial and Commercial Bank of China’s (ICBC) Argentinian operation &#8211; a relic from the abandoned strategy.</p>



<p>It expects to deliver a gain of about 600 million rand as a result of the transaction, adding that it will reinvest any proceeds into its Africa-focused operations, which have produced more stable profit.</p>



<p>However, a separate London-based partnership with ICBC, focused on financial markets and commodities, made a $129.5 million loss in the first half, largely attributable to a provision covering exposure to a single client that filed for bankruptcy.</p>



<p>Standard Bank has previously said the London-based ICBC joint venture would need 1.1 billion rand injected to support its business plan.</p>



<p>($1 = 14.9705 rand)</p>



<p>Reporting by Emma Rumney; Editing by David Goodman </p>


Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

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<p>Bandile Zondo, Executive Head of Finance at Standard Bank joins CNBC Africa to talk about what the listed property space holds for investors in 2020 at the on-going SAPOA Annual Convention.</p>


Standard Bank’s listed property sector outlook

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<p>Khotso Moji a Money Market, Fixed Income and Structuring Dealer at Standard Bank joins CNBC Africa to look at movements shaping the Lesotho market.</p>


Standard Bank sees improved investment opportunities in Lesotho

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<p>Shifting consumer preferences and increasing competition are creating new challenges for banks. Traditional banks like Standard Bank are trying to find solutions that will keep them relevant to a younger demographic. CEO for Personal and Business Banking at Standard Bank, Funeka Montjane spoke to CNBC Africa’s Kopano Gumbi about the bank’s new product offering, MyMo.</p>


Standard Bank’s new R5 account MyMo

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<p>Improving trade integration across the continent has seen some traction in recent years, but what are some key trends to note with regards to trade in West Africa? CNBC Africa&#8217;s Kenneth Igbomor caught up with Muyiwa Oni, Regional Head of Equity Research at Standard Bank group to discuss the dynamics of trade in West Africa.</p>


The dynamics of trade in West Africa explained


<p>Absa&#8217;s former deputy CEO David Hodnett will join Standard Bank as its  Group’s Chief Risk Officer designate from 25 March 2019 and replace Neil Surgey on 1 May.</p>



<p>Hodnett left Absa in 2018 after his position effectively disappeared due to a restructure.  </p>



<p>In a statement Standard Bank says the banking veteran previously worked for it from 2000 until 2008, during which time he held various risk roles at an executive level, mainly in the Personal and Business Banking division. He joined Absa in 2008, undertaking roles including Chief Risk Officer, Finance Director and Deputy CEO with responsibility for IT, Operations and Rest of Africa. He was most recently appointed as Deputy Chief Executive of South Africa, the role he held until May 2018.</p>


Standard Bank

South Africa may stop lenders blacklisting borrowers during pandemic

Here’s how to apply for SA’s COVID-19 loan guarantee scheme

Standard Bank extends instalment relief measures to personal account customers

Standard Bank unveils measures to mitigate COVID-19 impact on its customers

Standard Bank CEO Sim Tshabalala on results, COVID-19 & SA’s economic outlook

Standard Bank donates R750 000 to help combat COVID-19

Africa Investment Forum: Standard Bank: Its prime-time to drive intra-Africa trade through SDGs & AfCFTA

How the U.S-China trade war, Brexit impacts SA’s economy

How banks can align their business strategies to fighting climate change

Standard Bank, Nomanini partner to access Africa’s informal retail economy

Standard Bank looks to Africa for growth

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

Standard Bank’s listed property sector outlook

Standard Bank sees improved investment opportunities in Lesotho

Standard Bank’s new R5 account MyMo

The dynamics of trade in West Africa explained

Absa’s former deputy CEO joins Standard Bank

News Tips

Advertise With Us

Standard Bank

South Africa may stop lenders blacklisting borrowers during pandemic

Here’s how to apply for SA’s COVID-19 loan guarantee scheme

Standard Bank extends instalment relief measures to personal account customers

Standard Bank unveils measures to mitigate COVID-19 impact on its customers

Standard Bank CEO Sim Tshabalala on results, COVID-19 & SA’s economic outlook

Standard Bank donates R750 000 to help combat COVID-19

Africa Investment Forum: Standard Bank: Its prime-time to drive intra-Africa trade through SDGs & AfCFTA

How the U.S-China trade war, Brexit impacts SA’s economy

How banks can align their business strategies to fighting climate change

Standard Bank, Nomanini partner to access Africa’s informal retail economy

Standard Bank looks to Africa for growth

Standard Bank’s expansion in some of Africa’s fastest-growing economies pays off

Standard Bank’s listed property sector outlook

Standard Bank sees improved investment opportunities in Lesotho

Standard Bank’s new R5 account MyMo

The dynamics of trade in West Africa explained

Absa’s former deputy CEO joins Standard Bank

News Tips

Advertise With Us

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