African Bank eyes R80m acquisition of Ubank’s assets and employees
Ubank was placed under curatorship in May due to a lack of capital reserves, with African Bank saying it complements its existing national offering
26 August 2022 - 08:44
African Bank, which recently announced a R1.5bn deal to buy Grindrod Bank, is now seeking additional scale in an R80m deal to buy the assets of Ubank, which is under curatorship.
Ubank, with about 4.7-million accounts, has a strong presence across certain mining and rural communities, and was placed under curatorship in May for failing to maintain adequate capital levels...
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