Jump to content
Sign in to follow this  
admin

African Bank placed under curatorship

Recommended Posts

SADiamondsrus
Black Economic Empowerment doing its Damnedest ...

 

 

Eish, yes I heard the news, wow, they are down 33%, some woman on news said they are going to recover all their debt and no one that has borrowed from the bank will get away.

 

So daft, they borrow left right and centre to anybody, and then blame people for not paying when they shouldn't have qualified for a loan in 1st place.

 

Thankfully have not dealt with them ever. Their lending decisions just shows.....

Share this post


Link to post
Share on other sites
alloway65

I have a feeling that Abil won’t be the first bank to get into trouble after the SA Banks' unsecured lending spree.

 

From a high of R40.00 down to 33 cents in 3 years quite a drop.

Edited by alloway65

Share this post


Link to post
Share on other sites
jwither
Black Economic Empowerment doing its Damnedest ...

 

 

Don't know the specifics but still agree with you absent evidence to the contrary. Cronyism and political correctness run amok.

 

And by the way, don't think where I live is exempt either because it exists aplenty in the US. It is probably just disguised better such as under the "Community Reinvestment Act" which is basically an extortion racket where banks have to lend to a bunch of deadbeats or else the next time they want to open a branch, merge with another bank or any number of other business activities which are no one else's business, some "community acitivist" group will file a protest and then the bank pays a bribe anyway to make them go away.

Share this post


Link to post
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
Sign in to follow this  

×