South African Bank Of Athens Annual Report

South African Bank Of Athens Annual Report

Introducing DebiCheck


Most South Africans agree that debit orders are a convenient way to pay their accounts, as it saves them time and having to remember to make payments, thereby giving them peace of mind. 

However, over the past number of years, debit order abuse has become a major issue in South Africa. There has been bad behaviour by some companies that process invalid debit orders to consumer bank accounts. In addition, there are consumers that avoid paying valid debit orders by unfairly disputing these with their banks. As a result, the Reserve Bank has asked PASA, which includes the South African banks, to find a solution. 


This is why we are introducing DebiCheck. DebiChecks are new debit orders electronically confirmed by you with your bank on a once-off basis, relating to a new contract that you have signed with a company. 

This means that your bank will now know the details of what you have agreed to and will not allow your DebiCheck to be processed outside the terms that you have confirmed. 

With DebiCheck, you will be in control. To help make DebiCheck work for you, you must ensure that your bank has your correct cell phone number. 

DebiCheck will be launched from 2017 and rolled out in a phased approach over the next two to three years. Companies/service providers that choose to adopt DebiCheck will do so over time and, therefore, not all your new debit orders will be affected at the same time. DebiChecks will also not replace your existing debit orders.

For more information, please visit httpss://


Don’t become a victim of financial crime.
Know the facts.


Every day, numerous consumers become victims of financial crime. Criminals are more cunning than ever before in getting their hands on your money. As the Bank of Athens, we want to help our customers protect themselves and be aware of the risks they face. One of the mechanisms criminals employ to steal money from you is through Card Swapping. Below are facts around Card Swapping and tips on how to protect yourself:


While using an ATM, an unknown person will approach the victim and try to “assist” them. Their card will be taken out of the ATM by the criminal who presses the cancel button for the card to eject. It is then swapped without the bank customer even realising it.

The card swap usually happens before the victim inserts their PIN to transact, which prevents the transaction from taking place due to the swapped card being in the ATM. During this process of “assisting”, the fraudster is close enough to view the PIN. The victim will then leave the ATM after the unsuccessful transaction, either with someone else’s card, which they don’t realise at that point or without their card which was apparently swallowed by the ATM.

At the same time the criminal walks away with the victim’s card and PIN, which will be utilised almost immediately at another nearby ATM. By the time the victim realises what has happened, and arranges to cancel the card, their money has already been withdrawn.Criminals attempt to confuse bank customers, making them more inclined to accept assistance at ATM’s by:

  • Changing the language on ATM screen so that it looks unfamiliar to a customer, creating confusion;
  • Activating the “cardless function” to change the way the display usually looks to disorientate a customer;
  • Jamming the card slot or the pin pad of the ATM to lure a customer to a more remote ATM, around a corner, or short distance away.

To protect yourself and your customers from criminals utilising these modus operandi, adhere to the following:

  • If you think the ATM is faulty, cancel the transaction IMMEDIATELY, report the fault to the Bank and transact at another ATM.
  • Avoid ATMs that are dimly lit or surrounded by loiterers, and never allow your children to draw money using your card, since they’re the most vulnerable to perpetrators.
  • Have your card ready in your hand before you approach the ATM to avoid opening your purse, bag or wallet while in the queue.
  • Be cautious of strangers offering to help as they could be trying to distract you in order to get your card or PIN.
  • Follow the instructions on the ATM screen carefully.
  • ONLY punch in your PIN once prompted by the ATM.
  • Report suspicious items or people around ATMs to the Bank.
  • Choose familiar and well-lit ATMs where you are visible and safe. Report any concerns regarding the ATM to the Bank.
  • Toll free numbers are displayed on all ATMs.
  • Be alert to your surroundings. Do not use the ATM if there are loiterers or suspicious people in the vicinity. Also, take note that fraudsters are often well-dressed, well-spoken and respectable looking individuals.
  • If you are disturbed or interfered with, whilst transacting at the ATM, your card may be skimmed, by being removed and replaced back into the ATM without your knowledge. Cancel the transaction immediately and report the incident using your Bank’s Stop Card Toll free number that is displayed on all ATMs, as well as on the back of your bank card. In case of a Lost/Stolen card. It is recommended that the debit card number and/or the cardholder services number 0861 102 205 be saved somewhere should the need arise.
  • Should you have been disturbed whilst transacting, immediately change your PIN or stop the card, to protect yourself from any unauthorised transactions occurring on your account.
  • Know what your ATM looks like so that you are able to identify any foreign objects attached to it.
  • Do not ask anyone to assist you at the ATM, not even the security personnel guarding the ATM or a bank official. Rather go inside the bank for help.
  • Never force your card into the slot as it might have been tampered with. Do not insert your card if the screen layout is not familiar to you and looks like the machine has been tampered with.
  • Don’t use ATMs where the card slot, keypad or screen has been tampered with. It could be an attempt to compromise your card.
  • Your PIN is your personal key to secure banking and it is crucial to keep it confidential.
  • Memorise your PIN, never write it down or share it with anyone, not even with your family member or a Bank official.
  • Choose a PIN that will not be easily guessed. Do not use your date of birth as a PIN.
  • Key in your PIN in such a way that no one else can see it e.g. cover your PIN when punching in the numbers even when alone at the ATM as some criminals may place secret cameras to observe your PIN.
  • Don’t let anyone stand too close to you in order to keep both your card and PIN safe.
  • Some fraudsters wait until you’ve drawn your cash to take advantage. Be wary of people loitering around the ATM and ensure that you are not followed.
  • Take your time to complete your transaction and secure your card and your cash in your wallet, handbag or pocket before leaving the ATM.
  • Set a daily withdrawal limit that suits your needs (the default amount is set at R1000.00), to protect yourself in an event that your card and PIN are compromised.
  • Check your balance regularly and report discrepancies to your Bank IMMEDIATELY.
  • Avoid withdrawing cash to pay for goods/services as your Debit Card can be used for these transactions. You are able to use your Debit Card wherever the Maestro/Visa Electron logo is displayed.
  • After you have completed your transaction successfully, leave the ATM area immediately. Be cautious of strangers requesting you to return to the ATM to finalise/close the transaction because they are unable to transact. Skimming or card swapping may occur during this request.
  • Make sure that prior to transacting at the ATM, you understand the screen before entering a PIN, as it could be in “cardless transaction” mode.

Following these steps may feel inconvenient, but remember you take many measures to secure the keys to your property, ensuring your accounts are safe is no different.

*Content courtesy of SABRIC as part of their cybercrime awareness campaigns.



National Bank of Greece S.A. (“NBG” or the “Bank”) entered into a definitive agreement to sell its entire stake (99.81%) in its subsidiary South African Bank of Athens (“SABA”) to AFGRI Holdings (PTY) Ltd (“AFGRI”). The transaction was pursued in the context of NBG’s Restructuring Plan and in line with its commitments towards European’s Commission’s DG Competition.

The transaction is expected to close within the second semester of 2017 and is subject to customary regulatory and other approvals, including from: (i) the South African Reserve Bank (ii) the South African Ministry of Finance and (iii) the South African Competition Commission and Competition Tribunal. 

Following the transaction, NBG Proforma Q3 2016 CET1 ratio will increase by c.5bps, while the Bank’s liquidity is expected to be enhanced by c. EUR 55 million (comprising of the equity value payment, replenishment of intragroup funding and subordinated debt assignment).

Investec Bank Ltd (“Investec”) acted as financial advisor, while Freshfields Bruckhaus Deringer LLP (“Freshfields”) and Edward Nathan Sonnenbergs Incorporated (“ENSafrica”) acted as international and local legal counsels respectively to NBG.

SABA, established in 1947, is a South African-based bank providing comprehensive business banking services to the medium-sized local businesses, as well as niche transactional banking solutions to the broader market.

AFGRI is a leading agricultural services, financial services and food processing company operating in South Africa, 14 countries in the rest of the African continent, the USA, UK and Western Australia.


The Integrated Annual Report and the audited annual financial statements for the year ended 31 December 2016 are available for viewing and downloading.

Included in the report are the official notice of annual general meeting and form of proxy for sixty-ninth Annual General Meeting of the South African Bank of Athens Limited (“SABA”) to be held in the Boardroom of The South African Bank of Athens Limited, Block 3 Inanda Greens Business Park, 54 Wierda Road West, Wierda Valley, Sandton, on Wednesday, 21st June 2017, at 10h00 (South African Time). Printed copies of the Integrated Annual Report have been mailed to shareholders.

The record date in terms of Section 59 of the Companies Act 71 of 2008, for purposes of determining which shareholders of the company are entitled to receive notice and to vote at the meeting, is 09th June 2017.

To be effective the proxy forms, must reach the office of the Company Secretary by no later than 10:00 am on Friday, 16th June 2017 and are available here. Click to view/download the proxy form.

Note registered and postal address of The South African Bank of Athens Limited below:

Registered address
Block 3, Inanda Greens Business Park
54 Wierda Road West
Wierda Valley
Postal Address
P O box 784921

Kindly contact Maureen Dolo on [email protected] to request a printed copy.


The South African Bank of Athens is proud to confirm the launch of our new internet banking platform, designed specifically for South African SME businesses. Our new system provides a modern and intuitive user experience aimed at making your electronic banking simpler and safer.

We have focused on increased security features, improved usability and the layers of approval, authorisation and access that a business user needs, to operate their accounts effectively. Although designed with businesses in mind, we have also ensured that the new system is equally user-friendly and effective for the individual user. 

Some of the New Internet Banking features will include:

·         Email your statements to yourself

·         Export your statement into Excel

·         Multiple Payments – lets you pay multiple beneficiaries simultaneously

·         Group Payments – lets you group beneficiaries together so that they can be paid simultaneously

·         Recurring Payments – set up a recurring payment to a beneficiary

·         Once-off Payments – make a payment without having to create a beneficiary first

·         More options around Beneficiary and Payment Approvals

·         SMS and email notifications

Launch date

The new system will be implemented over the weekend of 18 February 2017, and will be live from the morning of Monday the 20th of February. Due to this change, Internet Banking services will not be available during this period (specifically from 9am 18/2/2017 until 9am 20/2/2017). 

Your Bank of Athens cards will however continue to operate as usual over this weekend for all ATM and POS transactions.

Important Information

1.       All accounts that you may be linked to, will be displayed on your Internet Banking profile.  You will no longer have to logon to multiple profiles – your personal, business as well as any other linked accounts that you have been granted access to, by the owners of those accounts, will display on your single Internet Banking Profile. 
2.       Your SABA loan accounts will not be visible on Internet Banking immediately, and this will be added to your profile later this year.  Please watch this space for notifications on the expected time for this added service.
3.       Please don’t give your new login credentials to anybody.  The new internet banking system allows you the ability to grant access to another person to view or transact on your accounts, based on levels of authority you select. Any such person would then be issued with their own username and password.  Please contact the branch should you wish to arrange this.

The Bank cannot accept liability for any loss or damage that may occur should you disclose your login credentials to another person.

How to get your new Internet Banking Logon Details:

To ensure improved security, you will be allocated a new 12 Digit User ID for the new internet banking system. This new User ID will replace your existing user ID.

When the new internet banking goes live on 20 February 2017, a link will be available on the login screen. Follow this link, (i.e. click EXISTING CUSTOMER ACTIVATION) and a series of simple steps will allow you to register and activate yourself on the new Internet Banking system.


Should you be unable to complete your registration for any reason, please contact your Relationship Manager or our Internet Banking helpline on 0861 102 205