Bank Windhoek managing director Baronice Hans says the potential loss in the case of an employee allegedly stealing N$200 million from the bank is less than N$2 million.

This is because some funds have been recovered after Nico Rebebe (30) allegedly stole N$200 million from the bank.

"The potential loss is less than N$2 million thanks to vigilant staff action and robust systems and controls within Bank Windhoek.

"No customer funds have been affected in any way by this incident," Hans says.

Bank Windhoek has also reassured that it is taking appropriate measures to address the situation and will update the public in due course.

"Bank Windhoek is regrettably unable to provide further comment.

"The bank remains steadfast in its commitment to transparency and will release additional information as soon as it becomes available, without compromising the integrity of the ongoing investigation," the bank has said in a press statement.

The police have reported that Rebebe allegedly transferred N$200 million into two bank accounts on Saturday.

This is according to the weekend crime report released on Sunday.

This transaction was done without the authorisation of the involved branch manager.

Bank Windhoek says it is actively cooperating with the police in the ongoing investigation.

The police have issued a wanted notice for Rebebe