VBS depositors respond

For the latest on developments at VBS we cross to our reporter Mike Maringa in Thohoyandou, Limpopo.

The South African Reserve Bank says it will prioritise VBS Mutual Bank’s retail depositors as the bank faces an uncertain future.
The Reserve Bank announced that 90 per cent of VBS retail customers will receive their savings through Nedbank from July the 13th.
It says business depositors are not a priority at this point…
For the latest on the Nedbank’s role were are now joined by David Schwegmann, the Divisional Executive for Retail and Business Banking at Nedbank.

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