AFRICAN BANK

Finweek English Edition - - INVESTMENT -

Sa n l a m Pr i v a t e Cl i e nt s are bullish on t he out­look for this bank­ing group. Al­wyn van der Merwe, di­rec­tor of in­vest­ments picked the stock for 2013 say­ing: “The mar­ket re­mains scep­ti­cal about the so-called ‘ bub­ble’ in un­se­cured lend­ing. The strikes in ru­ral ar­eas in our coun­try ob­vi­ously also dented prof it prospects of the com­pany. How­ever, we t hink t he mar­ket has been too harsh and that the at­trac­tive div­i­dend yield in par­tic­u­lar jus­tif ies a po­si­tion in the Christ­mas stock­ing.”

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