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No collusion between banks to close Gupta accounts, says Nedbank CEO

So far, the Zondo Commission has heard from officials from FNB, Standard Bank and Absa that members of the ANC government tried to meet with them in the wake of their decisions to close the accounts of Gupta linked entities.

A screengrab shows Nedbank CEO Mike Brown give testimony at the state capture inquiry on 19 September 2018. Picture: SABC Digital News/youtube.com

JOHANNESBURG - Nedbank chief executive Mike Brown has told the state capture inquiry that he attended the meeting at Luthuli House to discuss the closure of Gupta related accounts.

So far, the Zondo Commission has heard from officials from FNB, Standard Bank and Absa that members of the ANC government tried to meet with them in the wake of their decisions to close the accounts of Gupta linked entities.

Brown says he informed the ANC top brass that he could not discuss any client related issues.

“There were at least two key narrative or discussion points. One of them was around the specific matters of closure of the Gupta accounts, and I was very clear that I would not be able to talk at all given client confidentiality around the specifics of the closure of the Gupta accounts.”

Brown has denied any collusion between the major banks in closing the accounts of the Gupta companies.

“We compete with other banks in order to grow our businesses and open as many accounts as we possibly can. So, banks are not in the business of closing accounts unilaterally.”

WATCH LIVE: Nedbank CEO gives evidence at Zondo Commission

(Edited by Shimoney Regter)

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