Bad boys FNB and Nedbank

[moklet]

Go judge for your selves

http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page196?oid=28588&sn=Detail

 

[RazedInBlack]

But when it the reverse - they'll implement same day! Evil I say!

 

[semiautomatix]

But when it the reverse - they'll implement same day! Evil I say!

Oh of course, you expect them to lose money? Never mind the amount they're earning in bank charges :/

 

[ToxicBunny]

Well whilst I'm all for bashing the banks, this article is definitely lacking in proof...

Do we know that Nedbank and FNB are able to raise rates the instant Mboweni makes his little utterances?

Whats to say they took the prudent route and didn't prep for anything, whereas ABSA and Standard prepped for a 0.5% decrease and therefore could implement it immediately?

 

[Abe]

Do we know that Nedbank and FNB are able to raise rates the instant Mboweni makes his little utterances?

For the last increase (Jun 12), the increase was announced and on the same day, all of the major banks had increased their rates. The first one to announce the increase was Nedbank, followed shortly by the other three. All 4 banks had announced their increase by 5pm the same day.

 

[ToxicBunny]

Announcing an increase and implementing it are two different things though

 

[Abe]

Announcing an increase and implementing it are two different things though

They annouced that it would be implemented the next day (Friday) which was when the new repo rate took effect.

http://business.iafrica.com/news/734538.htm