UNITED DEMOCRATIC MOVEMENT

MEDIA RELEASE

REPORT BY BANKING ADJUDICATOR

STATEMENT ISSUED BY DR GERHARD KOORNHOF, MP
UDM SPOKESPERSON FOR FINANCE

A strongly worded report by the banking adjudicator, Neville Melville has brought to light the lack of quality of services of banks in South Africa. The UDM urges banks to  take serious action in light of this report, especially in respect of service delivery aspects towards their clients.

In recent years banks have come under serious scrutiny. The split of decisions in favour of clients and banks as reflected in this year's annual report does not provide a good testimony for banks and leaves much room for improvement.

The UDM calls on banks to act individually and collectively, to pro-actively improve their service delivery to clients and their contribution towards society at large. The UDM believes that banks are not just lending institutions. They have a pivotal role to play to improve the quality of life in South Africans. Thus the UDM calls on banking institutions to actively take up their rightful place as leading figures of our economy to bring about economic and social transformation within SA.

Enquiries:
Dr Gerhard Koornhof, MP
UDM Spokesperson for Finance

Cape Town
9 May 2001