Tuesday, February 24, 2009

Global Financial Services Distressed - South Africa's Merely Stressed

In terms of financial institutions, SA has become a haven of sorts...
WHILE South Africa is relatively well positioned in the current credit crisis, a number of challenges remain as credit demand continues to fall sharply despite falling interest rates, said Ernst & Young on Monday in a report on the impact of the financial crisis.

On a risk pendulum, SA financial services companies as seen as "stressed" rather than "distressed" like their global counterparts. But Pera does note that there are "significant challenges" in a "tough environment".

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