VBS Mutual Bank rejects bankruptcy reports

Reading Time: < 1 minute

One of the founding members of VBS Mutual Bank, Wilson Muvhulawa has rejected reports that the bank is facing financial problems.

Muvhulawa says the bank remains solvent, despite being placed under curatorship by the Reserve Bank.

He spoke to the SABC outside one of its active branches at Louis Trichardt in Limpopo.

Muvhulawa says clients using the bank have been given false information.

“Clients are given a wrong message, they are saying the bank is bankrupt, they are saying the bank is closing down the bank is not closing down, the bank is not even bankrupt, the bank is very much solvent the only thing there is a technical problem of liquidity which is very temporary which was caused by things I will not explain here but those are the things that are not making me happy,” says Muvhulawa.

Click below for a related video: