THE only way VBS Mutual Bank can disclose details on President Jacob Zuma’s home loan — or, for that matter, the major banks explain why they withdrew their services from business entities owned by the controversial Gupta family — is if it was forced to do so by the courts, bankers say.The loan granted to Zuma to repay R7.8m for nonsecurity upgrades to his Nkandla residence has raised questions about how he qualified for it, given his age and income. VBS has said it applied its usual criteria in granting the loan.Unless bank official leaks details of the loan — and bankers in SA are unlikely whistle-blowers — we are not likely to ever know the terms of the deal.READ THIS: Edward Zuma criticises demands for a ‘proof of Nkandla payment’Most of the big four banks (FNB referred questions to an independent academic) pointed to different case law for reasons banks keep client information and transactions secret."A bank owes a duty of confidentiality and secrecy towards its customers," Ne...
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