VBS bank shareholders seek solutions

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VBS shareholders will later on Saturday have a meeting at Sibasa, near Thohoyandou in Limpopo, to discus the way forward following financial woes the bank and its clients have been going through for months.

The South African National Reserve Bank has put the bank under curatorship after it merged they have allegedly mismanaged cash by reckless lending.

About R900 million has allegedly disappeared from VBS.

Clients are allowed to withdraw R1000 a day from the money they banked with VBS. Some of the clients  in Thohoyandou say they want VBS management and shareholders to allow clients to withdraw all their moneys.

“We want the shareholders to talk to the management to give us our money without limit. This thing of only allowed to only withdraw one thousand rand is not good at all. Let them at least allow us to withdraw about five thousand rand for those who have deposited large sums of money.”