By Shaun Murison Standard Bank, the largest lender in Africa, is the third major bank in South Africa to report interim results on 14 August 2014. As with Standard Bank’s sector counterparts, investors will be looking at the divide in revenue between net interest income and non-interest income as well as the level of impairments … Read more
By Alec Hogg A few years back, I was approached by a London investment bank which needed help on assessing Nedbank. They were sworn to secrecy, but as tends to happen, it wasn’t too hard to work out their client was Standard Chartered Bank. The UK group has cash to burn. And as Old Mutual … Read more
The SA Reserve Bank, which last Wednesday said it has been closely monitoring developments at embattled Abil, yesterday announced a rescue plan for the bank. Abil’s demise is typical for a failed bank – the slow decay as confidence wanes followed by a sudden crash as it runs out of options. The classical tipping point, … Read more
African Bank Investments better known as Abil, sent shockwaves through the markets today with its announcement that it was expecting headline losses of R6.4bn, and that CEO of 23 years, Leon Kirkinis would be stepping down immediately. Abil’s share price dipped to prices it hadn’t seen since 1997, and closed 60.76% down on the day … Read more
It is not everyday that an announcement on the Stock Exchange News Service (SENS) creates a frenzy. Today however, Abil’s SENS announcement titled, ‘Quarterly operational update for quarter ended 30 June 2014, changes to the board, trading statement and cautionary announcement‘ did exactly that. Abil’s share price plummeted and unfortunately it seems that an air of … Read more
Piet Viljoen, star fund manager from RECM, was in studio with Alec Hogg to discuss news coming out of the markets in the form of company results. Alec and Piet focus on Nedbank’s results and the current position of ArcelorMittal in the market from the perspective of value investing in shares to extract maximum value … Read more
As the share price of Abil was plunging to a third of yesterday’s value (down from 688c to 250c), head of equities at Sanlam, Patrice Rassou, offered a large shareholder’s perspective of the fall and fall of Abil, once a darling of the South African investment community. This morning’s news that with further uncovering of … Read more
Nedbank‘s CEO Mike Brown joined Alec Hogg on CNBC Africa’s Power Lunch to chat about Nedbank’s interim results, as well as his stewardship of Nedbank in the future. The group delivered satisfactory results for the six month period that ended in June, especially when considering peer company results. For more insight into the results from … Read more
By Shaun Murison South Africa’s fourth largest bank is set to report interim results on the 5th of August 2014. The Nedbank Group uses nominal gross domestic product (GDP) growth as its benchmark in terms of a target for its own headline earnings per share (HEPS) growth. When we consider the South African Reserve Bank’s (SARB) … Read more
By Bonnie Tubbs, Telecoms editor at ITWeb: From acquiring one million users over four years, to signing up 10 million users in five – this is the turnaround Vodacom is hoping for, as it tries for the second time to get its M-Pesa mobile money service off the ground in SA. But, is Vodacom’s ambition of having about a … Read more