trending Market Intelligence /marketintelligence/en/news-insights/trending/U4IZup7H-nyvdtVrqaTNMg2 content esgSubNav
In This List

Report: Probe of African Bank collapse faults directors' oversight

Blog

Banking Essentials Newsletter 2021: December Edition

Blog

Automating Credit Risk Surveillance Using Statistical Models

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling

Case Study

A Chinese Bank Takes Steps to Minimize Risks as it Supports International Trade


Report: Probe of African Bank collapse faults directors' oversight

A report into the 2014 collapse of foundthat directors of the firm failed in their responsibilities to manage andprotect the bank, Bloomberg News reported, citing "two people who haveseen a copy of the document."

The report was compiled by advocate John Myburgh and is setto be released by the SouthAfrican Reserve Bank on May 12, according to Bloomberg. The report,presented to the central bank in February 2015, is said to question whetherdirectors had sufficient experience to supervise former CEO Leon Kirkinis,although it reportedly found no evidence of fraud.

A newly created entity known as African Bank Ltd. operations April 4,following its restructuring.