IOL (Free subscription) | yesterday
By Nondumiso MbuyazAs the economic crisis worsens and the banks tighten up their lending policies, first-time home buyers are struggling to get home loans, with their best chance of getting a bond sitting at only 50 percent. All four major banks have reported a substantial increase in the number of bond applications being declined with Nedbank granting only 35 percent of its home loan applications....
The Independent on Saturday (Free subscription) | yesterday
Home loan crackdownConsumers feeling the pinchNONDUMISO MBUYAZIAs the economic crisis worsens and the banks tighten up their lending policies, first-time home buyers are struggling to get home loans, with their best chance of getting a bond sitting at only 50%. All four major banks have reported a substantial increase in the number of bond applications being declined with Nedbank granting only...
All Africa (Free subscription) | 10/10/2008
... director at local private equity firm Brait, said.Mark Sardi, joint head of investment banking at Nedbank Capital, said private equity firms that were part of a listed company would have to mark to market. This means they will have to value their assets at current market prices -- and those prices have fallen. But, Sardi said, one benefit of the market turmoil was that although debt was...
All Africa (Free subscription) | 10/10/2008
... he said.The three-month Jibar rate had subsequently declined to 12,16% yesterday , he said.Nedbank spokesman Don Bowden said South African banks had escaped the liquidity crunch in the European and US interbank markets, where banks were scared to deal with each other. "It has been very much a normal environment from an interbank perspective," Bowden said. "Banks have been dealing with each...
All Africa (Free subscription) | 08/10/2008
... market seemed to reflect this yesterday, Absa's stock ending marginally up against a 3% rise for Nedbank and a bit less for FirstRand. Coincidence or investors taking a little insurance?The Bottom Line is edited by Edward West. © 2008 Business Day. All rights reserved. Distributed by AllAfrica Global Media (
All Africa (Free subscription) | 08/10/2008
... the demise of the sixth-largest, BOE, which was bailed out by the government and then bought by Nedbank.The crisis was probably worse than it looked at the time, with even larger banks taking some strain as clients pulled deposits and liquidity dried up. Fortunately, perhaps, we may never know how close SA came to a major banking crisis. It was all handled behind the scenes. Not only did...
All Africa (Free subscription) | 08/10/2008
... persist for a few more months, suggesting that the rand is likely to remain under pressure," said Nedbank economist Isaac Matshego. "This will inhibit the Reserve Bank's ability to accumulate reserves at a rapid pace."Imports are rising as an official infrastructure spending programme gathers momentum.That has reduced the volume of imports which SA's reserves can cover, to about 17 weeks...
All Africa (Free subscription) | 07/10/2008
... sabotage, the rapid pace of investment seen as crucial to expanding the economy's growth potential.Nedbank economist Nicky Weimar said: "There is huge global fallout. The downswing is now well and truly under way and is spreading to more sectors than initially thought."It makes sense to consider fixed-investment plans going forward now that the environment has changed quite badly."A sharp...
Decanter.com (Free subscription) | 06/10/2008
... case was also down 10 % over 2007. Both auctions donate some of their proceeds to charity. The Nedbank Cape Winemakers Guild sale - open to all buyers - fetched just under ZAR5m (£335,000), 3% less than 2008, though the average price per nine-litre case of ZAR1,958 (£131) was only slightly down. 'There were fewer buyers this year, as well as fewer successful buyers,' said Bennie Howard,...
Mail & Guardian (Free subscription) | 06/10/2008
... packet of R18,6-million, followed by First Rand chief executive Paul Harris with R16,5-million and Nedbank chief executive Tom Boardman with R11,8-million.Shoprite's Whitey Basson had the highest guaranteed package of R12,6-million, towering above Pick n Pay's Raymond Ackerman with R2,8-million and Spar's Wayne Hook with R2-million.The details of South Africa's top executive remuneration...
Herald (Free subscription) | 06/10/2008
... the scam, including mistakes in the web address, gave it away.The private account was opened with Nedbank on September 23 and closed last week before any deposits had been made.Schoeman said all bank payments to the municipality had to be made to Standard Bank, Pickering Street, Newton Park. The account number was: 080021719.“Using any other bank account will result in the incorrect allocation...
Herald (Free subscription) | 06/10/2008
... Steinbromat (Pty) Ltd and the Unemployment Insurance Fund. It also had an overdraft with Nedbank,They also had to pay more than R460000 for a rental deposit and arrears, and are now seeking relief from the court to nullify the deal and cancel the sales agreement.According to court documents, the purchase price was R800000, subject to the business showing a monthly turnover of R227000 between...
