Gerrie Fourie News

Capitec Bank

The Budget Bank Rattling South Africa's Financial Sector

A budget bank is booming in South Africa’s economic slump, challenging the decades-long dominance of the “big four” lenders and prompting a price war that is driving down banking costs in a country where many people can’t afford an account.

South Africa fines Deutsche Bank $857,000 for rules breaches

South Africa fines Deutsche Bank $857,000 for rules breaches

Deutsche Bank AG was fined 10 million rand ($857,000) by South Africa’s banking regulator for failure to comply with rules covering the detection of property linked to terrorism and other crimes.