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VBS is still under curatorship for the safety of depositors. As per the South African Reserve Bank SARB press conference held on , all transactional retail depositors, which include individuals, stokvels and burial societies who currently have up to R deposited in VBS Mutual Bank, will have their funds transferred to Nedbank..About VBS Mutual Bank. Profile A wholly black owned specialist corporate finance and retail bank. Registered with and regulated by the SARB, under banking license number , governed by the Mutual Bank’s Act, . .JOHANNESBURG The South African Reserce Bank Sarb yesterday laid bare the rot the curator found at the embattled VBS Mutual Bank, charging that the lender manipulated its own financial information..As VBS Mutual Bank’s crash paralyses municipalities after it lost R.bn of their funds, details are now emerging of how Vhavenda King Toni Mphephu Ramabulana and the bank’s executives lived the high life, flying in helicopters, driving Range Rovers and Mercedes Benz Vianos, and .Day ago Some VBS employees have finally signed retrenchment notices after days of rejecting them. The curator announced that workers are being retrenched while will remain. The workers held a meeting with representatives of the office of the curator and the bank’s Human Resource Department in Thohoyandou on Thursday.. VBS Mutual Bank, one of South Africa’s smallest lenders, has been put into administration after it was unable to repay money owed to municipalities, according to the country’s central bank..Reserve Bank governor Lesetja Kganyago placed Venda based VBS Mutual Bank under curatorship. This is the first curatorship in SA since the Bank put African Bank under curatorship in August .Days ago President Cyril Ramaphosa knew about the widespread looting at VBS Mutual Bank early last year, but allegedly failed to take any action City Press has learnt that Ramaphosa was informed of .VBS Mutual Bank is a South African mutual bank. It was formed as Venda Building Society in , and became a mutual bank in . Curatorship. VBS Bank was placed under curatorship in March following liquidity problems..Officials implicated in the corruption that has occurred at the VBS Mutual Bank must be held accountable, says the Democratic Alliance. The party’s Shadow Minister of Cooperative Governance and Traditional Affairs, Kevin Mileham, on Sunday issued a statement calling for Dr Zweli Mkhize to “take .

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Some VBS employees have finally signed retrenchment notices after days of rejecting them. The curator announced that workers are being retrenched while will remain. The workers held a meeting with representatives of the office of the curator and the bank’s Human Resource Department in Thohoyandou on Thursday..President Cyril Ramaphosa knew about the widespread looting at VBS Mutual Bank early last year, but allegedly failed to take any action City Press has learnt that Ramaphosa was informed of .VBS Mutual Bank is a South African mutual bank. It was formed as Venda Building Society in , and became a mutual bank in . Curatorship. VBS Bank was placed under curatorship in March following liquidity problems..VBS is still under curatorship for the safety of depositors. As per the South African Reserve Bank SARB press conference held on , all transactional retail depositors, which include individuals, stokvels and burial societies who currently have up to R deposited in VBS Mutual Bank, will have their funds transferred to Nedbank..

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Vbs Mutual Bank Severely Mismanaged Probably Fraudulent Sarb Affidavit

Vbs Mutual Bank Severely Mismanaged Probably Fraudulent Sarb Affidavit

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Vbs Mutual Bank Logo Image Supplied

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About Vbs Mutual Bank

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Dear VBS customer. VBS is still under curatorship for the safety of depositors. As per the South African Reserve Bank SARB press conference held on , all transactional retail depositors, which include individuals, stokvels and burial societies who currently have up to R deposited in VBS Mutual Bank, will have their funds transferred to Nedbank..Those responsible for fraudulent VBS deposits ‘will be held accountable’ Fourteen municipalities in the provinces invested R. billion with the VBS Mutual Bank against the advice of Treasury..