The Reserve Bank's governor Lesetja Kganyago announced on Sunday afternoon that VBS Mutual Bank is to be placed under curatorship.South African news website ENCA reports that the bank was in the news in 2016 when it lent former president Jacob Zuma R7.8-million to repay the state for non-security upgrades made to his private homestead in Nkandla in KwaZulu-Natal.
Treasury On Approval of Placing VBS Mutual Bank Under Curatorship
Govt of SA, 11 March 2018
The National Treasury can confirm that the Minister of Finance has approved the recommendation of the Registrar of Banks to place VBS Mutual Bank under curatorship in order to… Read more »
DA Welcomes Sarb's Decision to Place VBS Under Curatorship
DA, 12 March 2018
The DA welcomes the announcement today by the South African Reserve Bank (SARB) Governor, Lesetja Kganyago, that the VBS Mutual Bank has been placed under curatorship. Read more »
Venda-based VBS Mutual Bank has been placed under curatorship. see more »
The VBS Mutual Bank website
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