Deloitte has defended its auditing work on African Bank, saying there was nothing wrong in the way the rescued lender calculated how much it needed to put aside to cover potential customer defaults.

African Bank nearly collapsed under a mountain of unpaid consumer loans in 2014, prompting the SA Reserve Bank to come up with a bailout package and place it under curatorship.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now