Point 2.15 in the Banking code of conduct reads : (we , the banks will ) Act with uncompromising integrity and fairness so as to promote complete trust and confidence in ourselves(the banks) and as an industry

Meaning of the words :

Uncompromising : not willing to give ground or make concessions about......

integrity: adherence to moral and ethical principles

fairness: absence of bias in specific realms

Trust : to be able to rely on........

Confidence: The hypothesis that a chosen course of action is the best and most effective.

This is a point that is being made by the banks that they will adhere to and we will be measuring actions of them against this.

See the Brandometer


Sunday, December 5, 2010

Absa vs Bond originators



Absa is now totally ignoring the fact that consumers will be in the driving seat in the very near future. The newly drafted consumer bill (hopefully) will come into force soon.

The bank is placing race and politics before consumerism. The recent issue with Solidarity has shown the bank's real colours. (Pun intended) It is all about race.

The same is happening now. The banks consumers who wishes to do business with the bank via a bond originator will not have a choice anymore. You will work with their
preferred provider ( which incidentally was chosen because of its black empowerment status- a race issue again !) The bank is laughing the issue off by hiding behind their social responsibility or some crap like that.

Beware of the group ! Barclays has been implicated in Tax avoidance schemes and is also hiding behind the law. (various articles on the issue available on request)

Isn't it time clients started to vote with their feet ? Showing their soles to the bank as they are leaving ?

http://www.sake24.com/Ekonomie/Absa-strategie-kan-boemerang-20101203
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