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Saambou
Saambou Bank was a South African bank that was founded in 1942 and was liquidated in 2006. At the time it went into receivership, Saambou Bank was the sixth-largest bank in the country. History Foundation and development The bank was founded on June 12, 1942 under the name ''Unie Bouvereniging''. Shortly afterwards, the company took the name ''Saambou (Permanente) Bouvereniging''. In 1970 it merged with Nasionale Bouvereniging, creating ''Saambou Nasionale Bouvereniging''. They went public as ''Saambou Beherend'' in 1987 and traded under the name ''Saambou Bank''. 2002 - Bankruptcy The bank went into bankruptcy in February 2002 after newspaper articles speculated about it being bankrupt and customers withdrew R1 billion in two days. At the time it went into receivership, Saambou was the sixth-largest bank in the country. The JSE Limited stopped trading in its shares that same year, and First National Bank (South Africa) First National Bank (FNB; af, Eerste Nasionale Ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Limited Company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called Public company, ''publicly traded companies''. Public limited companies will also have a separate legal identity. A PLC can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with , an abbreviation for '. However, some public l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini. It also completely enclaves the country Lesotho. It is the southernmost country on the mainland of the Old World, and the second-most populous country located entirely south of the equator, after Tanzania. South Africa is a biodiversity hotspot, with unique biomes, plant and animal life. With over 60 million people, the country is the world's 24th-most populous nation and covers an area of . South Africa has three capital cities, with the executive, judicial and legislative branches of government based in Pretoria, Bloemfontein, and Cape Town respectively. The largest city is Johannesburg. About 80% of the population are Black South Afri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Services
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term commercial bank is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidated
Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry. Liquidation may either be compulsory (sometimes referred to as a ''creditors' liquidation'' or ''receivership'' following bankruptcy, which may result in the court creating a "liquidation trust") or voluntary (sometimes referred to as a ''shareholders' liquidation'', although some voluntary liquidations are controlled by the creditors). The term " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beeld
''Beeld'' (freely translated as ''Picture'' or ''Image'') is an Afrikaans-language daily newspaper that was launched on 16 September 1974. ''Beeld'' is distributed in four provinces of South Africa: Gauteng, Mpumalanga, Limpopo and North West, previously part of the former Transvaal province. ''Beeld'' (English: ''The Image'') was an Afrikaans-language Sunday newspaper in the late 1960s. Supplements *''Sake'' (Mon-Fri) *''Motors'' (Thur) *''Vrydag'' (Fri) List of editors * Schalk Pienaar (1974–1975) * Johannes Grosskopf (1975–1977) * Ton Vosloo (1977–1983) * Willem Wepener (1983–1989) * Salie de Swardt (1989–1992) * Willie Kühn (1993–1996) * Johan de Wet (1996–1999) * Arrie Rossouw (1999–2000) * Peet Kruger (2000–2009) * Tim du Plessis (2009–2011) * Peet Kruger (2011 - 2013) * Adriaan Basson (2013 - 2015) * Barnard Beukman (2015 - Present) Distribution areas Distribution figures Readership figures See also * List of newspapers in South Africa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
JSE Limited
JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange) is the largest stock exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. In 2003 the JSE had an estimated 473 listed companies and a market capitalisation of US$182.6 billion (€158 billion), as well as an average monthly traded value of US$6.399 billion (€5.5 billion). As of March 2022, the market capitalisation of the JSE was at US$1.36 trillion. History The discovery of gold on the Witwatersrand in 1886 led to many mining and financial companies opening and a need soon arose for a stock exchange. The first share transactions on the Rand took place in a rustic canvas tent, with trade taking place on Sundays, as this was the only day when mining was not allowed, owing to a strictly enforced regulation prohibiting the entry of African workers to the gold reefs. The ''Johannesburg Exchange & Chambers Company'' was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First National Bank (South Africa)
First National Bank (FNB; af, Eerste Nasionale Bank (ENB)) is one of South Africa's " big four" banks. It is a division of FirstRand, a large financial services conglomerate, which trades on the Johannesburg Securities Exchange (JSE), under the symbol: FSR. FNB is also listed on the Botswana Stock Exchange under the symbol FNBB and is a constituent of the BSE Domestic Company Index. Overview FNB is one of the three major divisions of the FirstRand Group, and the others being Rand Merchant Bank and Wesbank. First National Bank maintains banking subsidiaries which it owns wholly or in part, in Botswana, Mozambique, Namibia, South Africa, Eswatini, Tanzania, Zambia, Ghana, India, Lesotho and Guernsey. FNB is also actively pursuing expansion plans in Angola and Nigeria Media reports in May 2012, indicated that the bank is also making plans to expand into Kenya, Rwanda and Uganda. History FNB is the oldest bank in South Africa. It traces its origins back to the ''Eastern triocree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
News24 (website)
News24 is an English-language South African news website created in October 1998 by the multinational media company, Naspers. Its team of approximately 100 journalists, led by editor-in-chief Adriaan Basson, are based in Cape Town, Johannesburg, Pretoria, Durban and Gqeberha. Its brands include Fin24, Sport24, Channel24, Health24, Arts24, Parent24, Wheels24, W24, Ride24 and Business Insider SA. News24 is owned by Media24, a South African media company, with interests in digital media and services, newspapers, magazines, e-commerce, book publishing, print and distribution. In August 2021, News24 launched a digital subscription service that offers premium investigative journalism, opinion, analysis and more to paying subscribers at R75 per month. It currently has more than 40 000 subscribers. History News24 was launched in October 1998 as part of Naspers’ new internet strategy under the company's new managing director at the time, Koos Bekker. According to the APP Annie's bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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