VBS bank cuts 94 jobs in aftermath of R2bn fraud

2018-10-17 17:40
VBS CEO Andile Ramavhunga. (Photo: Netwerk24)

VBS CEO Andile Ramavhunga. (Photo: Netwerk24)

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VBS Mutual Bank will retrench 94 employees, leaving the beleaguered bank with just 26 staff members made up of two general managers, admin staff and a collections team.

READ: Mariette Venter, VBS and the resistance against the looting of the state

Last week the Reserve Bank published a final forensic investigation report, compiled by advocate Terry Motau, into the collapse of VBS.

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