South African banks move to restore trust

SOUTH AFRICA - A review of governance of South Africa's five major banking groups will be undertaken, Registrar of Banks Christo Wiese said on Wednesday.

The banking groups are Absa, FirstRand, Investec, Nedcor Investment Bank and Standard Bank.

"We think our banks are good, but there is room for improvement. This pro-active step is for us to ensure good governance," SA Reserve Bank (SARB) deputy governor Gill Marcus said at a news conference in Pretoria.

The SARB and the five commercial banks

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