Central Bank Seizes South African Bank Linked to PIC and VhaVenda King
Posted on 03/12/2018
The South African Reserve Bank moved VBS Mutual Bank into administration after the South African lender was not able to repay money owned to municipalities. VBS Mutual Bank, which operated as a licensed mutual bank funded by its members, is facing a severe liquidity crisis. VBS Mutual Bank had witnessed a dramatic increase in municipal […]
