VBS Mutual Bank was a South African mutual bank. In 2018 it was declared insolvent and bankrupt and placed under curatorship, with South African citizens and taxpayers defrauded out of roughly R2 billion.
It was formed as Venda Building Society in 1982, and became a mutual bank in 1992.[2] By 2016 the bank reportedly had around 30,000 depositors with all deposits in the bank totalling R800 million. In 2017 the bank planned to list on the Johannesburg Stock Exchange; however, this never materialized.[3] Most of its branches and clients were located in Limpopo province.
^ abcde"VBS Mutual Bank Annual Report 2016" (PDF). VBS Mutual Bank. 2016. Retrieved 12 October 2018.
^Masondo, Sipho (23 September 2016). "What is VBS Mutual Bank? Everything you need to know". City Press.
^"VBS Mutual Bank, which lent Jacob Zuma R7.8m, will list on the JSE". Business Day. 2 February 2017. Retrieved 12 October 2018.
VBSMutualBank was a South African mutualbank. In 2018 it was declared insolvent and bankrupt and placed under curatorship, with South African citizens...
Vividh Bharati Service, an Indian radio channel; VBSMutualBank, a defunct South African mutualbank; Video Baseband Signal, an unmodulated analog B/W...
Following the publication of a South African Reserve Bank report into the collapse of VBSMutualBank implicating EFF deputy president Floyd Shivambu's brother...
December 2018 after being implicated in the corruption scandal at VBSMutualBank. She is a member of the African National Congress (ANC) and has been...
collapse of VBSMutualBank which allegedly involved Shivambu and his brother Brian Shivambu. A report published by the South African Reserve Bank in October...
Unicredit Bank AG Union Bank of Nigeria Plc Wells Fargo Bank Zenith Bank Plc GBS MutualBankVBSMutualBank Finbond MutualBankBank Zero YWBN MutualBank Development...
their positions for failing to act against officials implicated in the VBSMutualBank scandal. Maneli responded by saying that he won't resign and that he...
Group Limited, commonly known simply as Absa and formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until...
from VBSMutualBank, and allegedly defaulted on his repayments of the bond in August 2018. In August 2022, the Pietermaritzburg High Court granted VBS an...
1973. In 1986, Old Mutual became the major shareholder (53%) of Nedbank. In 1992, Syfrets, UAL Merchant Bank, and Nedbank Investment Bank Division merged...
TymeBank is an exclusively digital bank based in South Africa, aimed at the lower income market. Headquartered in Rosebank, Johannesburg, TymeBank does...
Mutual Insure on 5 June 2017, and is now a part of the Old Mutual Emerging Markets business. In 1973, Old Mutual acquired shareholding in Nedcor Bank...
platforms". Graphic Online. Retrieved 1 March 2021. "'If we were a bank, we would be a very big bank.' MTN's plans to spin off its mobile money business". Business...
franchises; Rand Merchant Bank (RMB), the corporate and investment bank; First National Bank (FNB), the retail and commercial bank; WesBank, an instalment finance...
African Bank Limited, is a retail bank in South Africa, that offers financial products and services. The Bank is licensed as a "locally controlled bank" by...
Imperial Bank South Africa Mercantile Bank Nedbank Rand Merchant Bank Sasfin Bank Stanchart South Africa Standard Bank TymeBank Ubank Wizzit Defunct VBS Mutual...
cash into VBSMutualBank". TimesLive. Retrieved 28 October 2018. Madia, Tshidi (11 October 2018). "ANC Limpopo to hold emergency meeting over VBS". News24...
Standard Bank Group Limited is a major South African bank and financial services group. It is Africa's biggest lender by assets. The company's corporate...
Imperial Bank South Africa Mercantile Bank Nedbank Rand Merchant Bank Sasfin Bank Stanchart South Africa Standard Bank TymeBank Ubank Wizzit Defunct VBS Mutual...
Bank Zero, registered with the South African Reserve Bank in 2018, is an exclusively digital mutualbank in South Africa. It offers banking to both individuals...
Imperial Bank South Africa Mercantile Bank Nedbank Rand Merchant Bank Sasfin Bank Stanchart South Africa Standard Bank TymeBank Ubank Wizzit Defunct VBS Mutual...
Absa Bank Limited, formerly known as the Amalgamated Banks of South Africa, is a commercial bank in South Africa and the flagship bank of Absa Group....
media reports that Selane had improperly benefitted from corruption at VBSMutualBank. He was reinstated in November. In the 2019 general election, Selane...