Matsila Trust aims to revive VBS Mutual Bank

Files containing the paperwork of Aubrey Mulaudzi, a diesel mechanic who had been banking with VBS Mutual Bank since 1989.

File: VBS Mutual Bank was looted of billions of rands before its collapse in 2018.

AFP

JOHANNESBURG - VBS Mutual Bank could be revived with the assistance of a local community trust.

The Matsila Community Development Trust wants the licence reactivated.

READ: Former VBS CFO intends to plead guilty

Acting on behalf of the VBS Shareholders’ Forum, it has sent an official letter to the central bank.

READ: Another VBS suspect arrested

The trust wants to discuss converting VBS' licence to a commercial one, in a process that could take between 6 and 9 months.

Source
eNCA

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