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Sarb to hold briefing on VBS Mutual Bank

The briefing will be held on Sunday afternoon, the Sarb said in a statement without providing further details.

FILE: Reserve Bank governor Lesetja Kganyago. Picture: EWN.

JOHANNESBURG - The South African Reserve Bank (Sarb) said on Sunday that Governor Lesetja Kganyago and the Registrar of Banks will hold a briefing regarding the situation at VBS Mutual Bank, a small bank that local media reported was in dire financial straits.

The briefing will be held on Sunday afternoon, the Sarb said in a statement without providing further details.

The City Press newspaper reported on Sunday that the bank is expected to be placed under curatorship this week by the SARB.

Officials at VBS Mutual Bank could not immediately be reached for comment.