Treasury can help Ithala Bank with licence, but not to escape liquidation
Finance minister says he cannot override the decisions of the Prudential Authority
21 April 2025 - 13:59
The National Treasury is willing to help KwaZulu-Natal’s Ithala Bank to get a banking licence, finance minister Enoch Godongwana has indicated, but cautions he cannot override the decisions of the Prudential Authority.
In 2024, parliament’s standing committee on finance urged that solutions be found to prevent the bank’s demise. The Prudential Authority is requesting provisional liquidation. The committee’s report was adopted by the National Assembly in December. ..
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