VBS retail depositors can access up to R100,000 on Friday
868 views · Published 10 July 2018 · 15:49 · Indexed 20 September 2026
Channel: SABC News · 2018 · News & Politics
The South African Reserve Bank estimates that 97% of the 22 700 VBS Mutual bank retail depositors will receive all of their money. Reserve Bank Governor, Lesetja Kganyago, yesterday announced that Nedbank will, from this Friday, provide retail customers with access to their cash from VBS. The Mutual bank was put under curatorship after problems emanated from a failure of the board of directors and executives to manage the businesses rapid growth and its funding and liquidity position. All customers who have loans with VBS have been urged to continue paying their loans as they are still legally obliged to do so. To discuss this we are joined by Kuben Naidoo, South African Reserve Banks Deputy Governor and CEO of the Prudential Authority. For more news, visit: sabcnews.com
More from this channel
-
24:28
Bophelong, 09 September 2016
-
2:18
Police investigate a case of abuse at a Kempton Park creche
-
11:17
Families of illegal miners hoping the rescue operation will resume soon
-
6:02
Dries Engelbrecht on Eastern Cape National Parks and what they offer
-
3:39
Pres. Zuma meets business and labour at the Union buildings
-
6:42
UN committee on the rights of the child meets SA delegation in Geneva
-
2:14
President Zuma calls for security council reform
-
4:04
Dawson Robertson on Jozi Yaka Festival