Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
African Bank Investments Ltd. will undertake a 10-billion rand ($938 million) capital raising and receive protection from creditors after the South African Reserve Bank intervened with measures to save the lender.Abil, as the lender is known, will also be split into a good bank and bad loan book.The book value of the good bank is 26 billion rand after impairments while the bad book has a value of 17 billion rand and will be placed in a SARB-backed vehicle, according to the Reserve Bank, which is paying 7 billion rand for the bad book.The good bank will be listed on Johannesburg's stock exchange, the central bank said.
FOLLOW THIS ARTICLE