The Prudential Authority (PA) has confirmed that around 90% of depositors at VBS Mutual Bank have been repaid, largely thanks to a National Treasury guarantee that covered balances up to R100 000. Only about 10% of depositors – primarily corporates and municipalities with larger balances – are still awaiting repayment ...
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The Financial Sector Conduct Authority (FSCA) has issued a public warning concerning individuals fraudulently posing as employees or authorised representatives of EasyEquities. EasyEquities is operated by First World Trader (Pty) Ltd, which is a legitimate, FSCA-authorised financial services provider. According to a report from Purple Group Ltd, the parent company ...
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The banking sector continues to show steady resilience, with several key indicators pointing to cautious but stable growth, reports the Prudential Authority.
Profitability is marginally stronger. Return on equity increased to 15.86% from 14.96% and return on assets rose to 1.18%. Despite operational cost pressures, the cost-to-income ...
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By Lee Rossini
Although generative AI has been around for a while, it suddenly seems to have taken off. Generative AI refers to a category of artificial intelligence that can create new content – text, images, music, code, and more – based on patterns learned from existing data. Rather than simply analysing or classifying information, generative AI models are designed to generate outputs that closely mimic human creativity and reasoning. These models have revolutionised fields from content creation, software development and client service, amongst others.
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