Standard bank
What is a virtual card and how does it work?
Standard Bank's virtual card enables its customers to take the necessary precautions ahead of Black Friday online shopping.
This comes after reports that the personal data of 24 million South Africans were compromised and almost 800,000 businesses exposed.
Standard Bank had already warned that profits would likely be at least 20% lower, with the pandemic prompting a spike in bad loans and also hitting new business and fee income from transactions.
On Tuesday morning, the bank said the funds would be used for immediate relief for its customers and ongoing support for eligible enterprises.
Interim results are expect to be released on 20 August.
The bank’s insurance wing said clients would receive a 25% cash-back because they were driving less because of the national lockdown.
Payment holidays are simply a freeze on commitments such as loans and bonds for a certain period. Customers who may be in a tight financial spot can opt-in or just simply carry on paying their debts as usual.
The bank made the announcement amid growing calls for consumer reprieve as the country grapples with the spread of COVID-19.
Standard Bank reported a 1% rise in headline earnings per share to 1,766.7 cents in the year to 31 December, compared with 1,748.4 cents a year earlier.
They are Standard Bank South Africa, Grobank, Ubank, Bank of China Johannesburg branch and HBZ Bank.
Standard Bank Group Chief Marketing and Communications Officer Thulani Sibeko said the decision not to renew the sponsorship agreement was not taken lightly.
A major sponsor of SA cricket’s development programmes has called on CSA bosses Thabang Moroe and Chris Nenzani to resign over the current crisis in the sport.
Certain local agricultural products are being snapped up by Chinese consumers, thanks to opportunities presented by Standard Bank at Ciie.
Standard Bank's Craig Polkinghorne says South Africa is still only scratching the surface when it comes to trade with China.
On Tuesday, Statistics SA announced GDP in the third quarter shrank by 0.6%.
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Standard Bank's Jeremy Stevens says the African Continental Free Trade Area could kickstart Africa's industrialisation.
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