Reserve Bank loses nearly R1bn on its stake in African Bank
Impairment means the Bank’s 50% stake is now worth R3.5bn, from R4.3bn a year ago
10 July 2024 - 05:00
The Reserve Bank took a nearly R1bn writedown charge on its stake in African Bank Investment Holdings (ABHL), valuing the entire rescued lender at about R7bn and underscoring a more cautious outlook on estimated cash flows.
“The performance of ABHL declined in the current financial year and resulted in a more conservative outlook on estimated future cash flows,” the central bank said in its latest annual report posted on its website...
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