The Banking Association South Africa

News

Update: Business & Economic Recovery

Banks are ready and able to assist with the payment of social security grants and salaries at the end of the month, despite the extensive damage to the infrastructure of banks in KwaZulu-Natal and parts of Gauteng in the recent unrest.

Update: Business & Economic Recovery

The recent violence and unrest caused extensive damage to the infrastructure of banks in KwaZulu-Natal and parts of Gauteng. The work of rebuilding and repair will take time, but with some branches and ATMs now back in service, South African banks are turning their attention to supporting customers whose businesses were disrupted. Banks will remain a part of those communities where their customers live and work.

Never Use Dye-Stained Notes

The people of South Africa are cautioned against accepting these dye-stained notes as legal tender as the onward use and value of these notes will not be honored.

Looting and Violence Poses Risk to SA

The destruction of bank branches and automatic teller machines (ATMs) in KZN and Gauteng, and threats to the safety of bank employees, directly imperils the safety, social security, economic activity, and jobs of many thousands of South Africans.

Robert Legh Message of Condolence

It is with great sadness that the Banking Association South Africa (BASA) heard of the passing of Bowmans’ Chair and Senior Partner, Robert Legh.

June Covid-19 Loan Guarantee Scheme Update

As at 19 June 2021, R18,39 billion in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme. Demand for the scheme dropped sharply since April 2021, and in the past month only 65 loans, with a value of R35,70 million, have been approved by banks.

Financial Crime Partnership

Members of the banking community and the sector’s regulatory and supervisory authorities are making inroads in targeting and disrupting financial crime through a financial information sharing partnership, called SAMLIT (South African Anti-Money Laundering Integrated Task Force).

Banking POPIA Code of Conduct

In terms of the provisions of section 61 (2) of POPIA, the Information Regulator (South Africa) gives notice that the Regulator is in receipt of a code of conduct from the Banking Association South Africa (BASA) that deals with how personal information will be processed by the member banks.

May Update: COVID-19 Loan Guarantee

As at 08 May 2021, R18,35 billion in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme, an increase of R12,60 million over the previous two weeks.

SA SMME COVID-19 Impact Report

The COVID-19 pandemic resulted in a lockdown that had a devastating impact on the livelihood of small businesses. According to the National Income Dynamics Study (Coronavirus Rapid Mobile Survey), a consumer study, South Africa has lost a decade’s worth of jobs in less than half a year of lockdown and the economy slowed by 16.4% in the second quarter of 2020 compared with the first quarter of 2020.