VBS depositors say they are ready to go and withdraw or transfer their money from the troubled VBS Mutual Bank to Nedbank as decided by the Reserve Bank.
Reserve bank Deputy Governor, Kuben Naidoo says they have established that the liquidity problems at the VBS Mutual Bank are more severe than they’d initially anticipated.
One of the founding members of VBS Mutual Bank, Wilson Muvhulawa has rejected reports that the bank is facing financial problems.
VBS Mutual Bank liquidator, Anoosh Rooplal says many municipalities have lodged their claims in the insolvent estate of the bank during the liquidator’s second meeting of creditors.
Standing Committee on Finance meets on VBS Mutual Bank.
The Mahikeng local municipality in the North West has approached the Limpopo High court for an order for the final winding up of VBS Mutual Bank.
Finance Minister Tito Mboweni has strongly defended the role of the Treasury and the South African Reserve Bank in the VBS Mutual Bank’s saga.
Economic Freedom Fighters (EFF) Deputy President Floyd Shivambu has denied receiving R10 million from VBS Mutual Bank.
VBS Mutual account holders have accused the bank of apathy.
The South African Reserve Bank has appointed a forensic investigator to probe VBS Mutual Bank’s affairs as well as the bank’s possible fraudulent activities.