Sabric Annual Crime Stats 2019

SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry has released its annual crime stats for 2019 and is pleased to announce that robust mitigation strategies deployed by member banks and partners are showing results.

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Covid-19 Loan Guarantee Scheme

South African banks have approved just over R7 billion in loans for 4 800 qualifying small businesses, since the Covid-19 Loan Guarantee Scheme was launched in mid-May. This amount is expected to grow as the number of applications for loans continues to increase.

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SABRIC Welcomes New CEO

The South African Banking Risk Information Centre (SABRIC) is delighted to welcome Nischal Mewalall, who today starts his tenure as CEO.

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May Debt Relief Update

In the two weeks between 09 May and 23 May 2020, Banking Association South Africa (BASA) members extended an additional R3 billion of debt relief to individual customers experiencing financial distress due to the Covid-19 pandemic and national lockdown. This brings the cumulative amount of relief offered by BASA members since they started assisting individuals to R14,48 billion.

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Islamic Financial Service Products Grew in 2019

The value of Islamic financial services products grew strongly in 2019, with the deposits reaching R35 billion (2018: R23 billion) and loans and advances amounting to R12.4 billion (2018: R10.6 billion), according to data from the South Africa Reserve Bank.

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April Update: Debt Relief for Customers

In the two weeks between 25 April to 09 May 2020, Banking Association South Africa (BASA) members extended an additional R3,84 billion of debt relief to individual customers experiencing financial distress due to the Covid-19 pandemic and national lockdown. This brings the cumulative amount of relief offered by BASA members since they started assisting individuals to R11,58 billion.

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COVID-19 Loan Scheme Q&A

As a result of the novel coronavirus and the steps taken to curb its spread, many businesses face a significant loss of income. In this context, government is partnering with commercial banks to provide financial support to small and medium-sized firms to enable them to meet their operational needs over the next few months.

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Loan Guarantee Scheme Opens

The Covid-19 loan guarantee scheme announced by President Cyril Ramaphosa in April will operate from today, 12 May 2020. The initial set of participating banks (Absa, First National Bank, Investec, Mercantile Bank, Nedbank and Standard Bank) are ready to accept loan applications from eligible businesses which bank with them.

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Debt Relief for Customers

South African banks are implementing debt relief measures to assist customers who are experiencing financial difficulties due to the Covid-19 pandemic and national lockdown.

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COVID-19 Call Centre Numbers

BASA is an industry association which represents those banks licenced to operate in South Africa, BASA is not able to assist customers with banking queries. For assistance regarding debt relief during the Covid-19 pandemic and lockdown, please see the contact numbers below.

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