Higher profits, declared dividends, and economic recovery were the three most popular topics reported on by the media during the recent banking industry financial reporting season that ran from mid February to mid April.
The results were framed positively as local banks began benefitting from the upswing in business activity and the reduction of lockdown restrictions. These are some of the takeaways from a newly-released special report by media monitoring company Novus Group on how banking results were reported on in the media.
The analysis was done on 482 news clippings, a significant increase year-on-year from the 270 clips in the same period in 2021 (note that Capitec was excluded in 2021). The significant increase in the overall AVE of R46,8 million, up from R16,02 million, can be attributed to the repetitive airing of the results on broadcast media as well as several international publications like Bloomberg and Reuters covering the results. Most banks used digital platforms, 195 articles, to publicize results backed up by broadcast interviews, 194 inserts, with top executives that further added to the overall industry coverage.
Absa Group (36%), Standard Bank (18%), and Nedbank (13%) were the three financial institutions with the largest share of voice based on volume. However, it must be said that as the fastest-growing digital bank, Discovery Bank coverage increased dramatically compared to the same period last year. “South Africa is renowned for having a world class financial services industry, particularly in the retail banking space, and the media attention is reflective of this. The banks have a positive story to tell on South Africa’s behalf, and it’s clear that our media are happy to carry their news, says Novus Group director Joe Hamman.
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