Developments around the VBS debacle

NASTASSIA ARENDSE:  Yesterday the curator of VBS Mutual Bank announced that he was withdrawing VBS Bank’s 2017 audited financial statements, saying that they contained material misstatements and were no longer considered to be reliable.

Warren Thompson from Moneyweb spoke to the curator, Anoosh Rooplal, who is the director of Sizwe Ntsaluba Gobodo.

ANOOSH ROOPLAL:  We were appointed as curator of VBS Mutual Bank with effect from March 11 2018. What was initially part of what was perceived to be a liquidity crisis has now emerged into something more. Our primary role was to stabilise the bank under the mechanism of a curatorship, which ultimately would allow us to restore the bank – and that’s been our primary…