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VBS Mutual Bank is a South African mutual bank. It was formed as Venda Building Society in , and became a mutual bank in . By the bank .Dear VBS customer. VBS is still under curatorship for the safety of depositors. As per the South African Reserve Bank SARB press conference held on July .It has been called the biggest bank fraud in the South African history. More than $m was stolen from VBS Mutual Bank, leading to its .It s the end of the road for the VBS Mutual Bank. Some very shady people filled their pockets with their profits, and it s seen the institution .VBS Mutual Bank, one of South Africa s smallest lenders, has been put into administration after it was unable to repay money owed to .Company profile key executives for VBS Mutual Bank D Johannesburg including description, corporate address, management team and contact .The High Court in Pretoria has ordered the liquidation of VBS Mutual Bank..Sarb heads to court to have VBS Mutual Bank liquidated. The South African Reserve Bank s prudential authority says the bank is hopelessly insolvent and beset .
VBS is still under curatorship for the safety of depositors. As per the South African Reserve Bank SARB press conference held on , all transactional retail depositors, which include individuals, stokvels and burial societies who currently have up to R deposited in VBS Mutual Bank, will have their funds transferred to Nedbank..VBS Mutual Bank is an authorised Financial Services Provider and a Registered Credit Provider. FSP NCR NCRCP .Reserve Bank applies for VBS Mutual Bank to be liquidated The Reserve Bank’s Prudential Authority says that the final winding up of VBS is in the best interests of all parties. a week ago. VBS Mutual Bank, one of South Africa’s smallest lenders, has been put into administration after it was unable to repay money owed to municipalities, according to the country’s central bank..As VBS Mutual Bank’s crash paralyses municipalities after it lost R.bn of their funds, details are now emerging of how Vhavenda King Toni Mphephu Ramabulana and the bank’s executives lived the high life, flying in helicopters, driving Range Rovers and Mercedes Benz Vianos, and shopping at .In his response to VBS majority shareholder Vele Investment’s application to set the curatorship aside, Naidoo said the bank’s failure to account for the money was a gross violation of banking laws..That the collapse of VBS Mutual Bank was a setback for financial sector transformation and diversity in financial service products was the broad agreement across MPs, or came from the South .VBS Mutual Bank, the name has been doing the rounds on social media as everyone has suddenly become a banking expert. We’ve got a nice little explainer to help us all understand what is going on .