Standard Bank raises alarm on loan-to-grant proposal SA’s largest lender says it’s open to talks on how to restructure the R200bn covid relief program but it rejects suggestions to swap the loans to grants 02 April 2021 - 11:16 Roxanne Henderson Standard Bank CEO Sim Tshabalala. Picture: MASI LOSI
Standard Bank Group has raised the alarm about proposals to revive a faltering government-backed credit program designed to aid South African businesses battered by Covid-19.
While SA’s largest lender is open to talks on how to restructure the R200bn program to drive up demand, it rejects suggestions to swap into grants the loans that have been provided, CEO Sim Tshabalala said in the bank’s annual report.