African Bank gets consent to take over Grindrod’s assets and liabilities
Prudential Authority says finance minister has granted consent for the transfer
06 May 2024 - 05:00
The Reserve Bank’s Prudential Authority has given notice that in accordance with the provisions of section 30(1)(f) of the Banks Act, of the consent granted by the minister of finance, in terms of section 54(1)(b) of the Banks Act, to the arrangement for the transfer of more than 25% of the assets and liabilities of Grindrod Bank to African Bank.
The regulator said this in a government gazette published on Friday...
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