Depositors don’t have anything to worry about.— Cas Coovadia, Banking Association of South Africa
S&P Global Ratings has downgraded its rating of South Africa’s banks, as it does not rate financial institutions above a country’s rating.
Since President Jacob Zuma's Cabinet reshuffle, when Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas were removed, the country's banks have lost around R61 billion.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
Our banks are pretty well capitalised. We conduct business in a fairly conservative way.— Cas Coovadia, Banking Association of South Africa
Banks will remain profitable.— Cas Coovadia, Banking Association of South Africa
The cost in borrowing goes up.— Cas Coovadia, Banking Association of South Africa
We met the Minister of Finance yesterday… I’ve got to give him the benefit of the doubt… he indicated he’ll stay the course…— Cas Coovadia, Banking Association of South Africa
The ANC needs to put national interest first.— Cas Coovadia, Banking Association of South Africa
Banking is still one of the strongest sectors of the economy.— Cas Coovadia, Banking Association of South Africa
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.
The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.
The Money Show’s Bruce Whitfield interviews Truworths CEO, Michael Mark.
The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.
Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.
A school with individual learning paths for each child, and no need for textbooks? SPARK Schools CEO Stacey Brewer joins Bruce Whitfield.
Tensions are rife in the East Joburg township as the community attacked and killed criminals.
Khabazela shares YouTube videos gone viral including a barmaid hitting a colleague who slapped her rear during a routine.
Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.
Philemon Letwaba says Tshepo's case relates to some of the issues that they are dealing with on a daily basis.
Khabazela shares tweets & videos that have gone viral including a parrot that told firefighters the F-word during its rescue.
Check out the videos, tweets, Facebook posts that have gone viral and why this kid cheered her dad on in the toilet.