South Africa: Country`s Banks Better Off Than U.S. and UK

source: allAfrica
Business Day (Johannesburg)
Sanchia Temkin
13 July 2010

Johannesburg — SA’s banks have emerged from the global recession in a much healthier state than their UK and US counterparts.

remuneration paid to executive directors in the financial services sector increased by 7%, according to a new report issued by PricewaterhouseCoopers (PwC) yesterday.

Whilethis is a much smaller increase than was seen in 2008 (23%), there has still been an increase, said Gerald Seegers, PwC South African director for human resources (tax division). By way of comparison, base salary increases awarded to executives of FTSE 100 companies over a similar period were limited to around 1%.

Although there is no clear evidence that the South African financial services sector is [continue reading]


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