Tag: Economic downturn

South Africa’s Capitec says full-year profits rise by 19%, skips dividend

South African lender Capitec said on Tuesday it would not pay a dividend for its full year, although profits rose by 19%, in line with guidance from the country’s central bank to scrap payouts amid the coronavirus outbreak.

Prudential Authority offers relief measures, guidance to South African banks amid COVID-19 crisis

As households and businesses in South Africa struggle to cope with the current economic turmoil and uncertainty brought upon by the COVID-19 pandemic, the Prudential Authority (PA) has welcomed the measures taken by banks to support their customers financially.

FNB extends aid for battling SMEs in South Africa amid COVID-19, lockdown

Amid the global COVID-19 pandemic and 21-day lockdown faced by South Africans, First National Bank has announced additional measures to assist small and medium-sized enterprises battling with funding in the country.
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