Nedbank, South Africa’s fourth-biggest bank, is confident it can fend off a legal challenge initiated by Transnet and the Special Investigating Unit (SIU), which claim it made a R2.7bn profit from illegal interest rate swaps during the state capture era.
Speaking to Business Times after the release of the group’s interim results for the six months to June, new Nedbank CEO Jason Quinn was adamant the bank hadn’t made the kind of money claimed by Transnet and insisted internal governance procedures were followed during the transactions...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.