SIU and Transnet pursue R2.8bn claim against Nedbank
29 July 2024 - 05:00
New Nedbank CEO Jason Quinn will have to fend off a R2.8bn lawsuit launched against the lender by the Special Investigating Unit and Transnet over interest rate swap transactions that took place nearly a decade ago.
The bank on Friday said it would defend its interests in the lawsuit, which if the SIU and Transnet succeed, will wipe off about 20% of the bank’s R15.7bn 2023 headline earnings...
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