COMPANY COMMENT
This is what African Bank is doing right
The resuscitation of an institution at death’s door is a credit to all those involved
08 September 2020 - 19:11
The continued progress of African Bank to the point where it can be relinquished as a stand-alone financial entity is fast becoming one of the great turnaround stories in SA corporate history, and another feather in the cap of the SA Reserve Bank that has orchestrated it.
It was only the magnitude of losses that a complete collapse was about to inflict on its creditors that a rescue plan was hatched to preserve its good parts and allow the group to begin to resuscitate itself with a bail-in from the Reserve Bank, the Public Investment Corporation (PIC) and some of the country’s large banks...
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