THE launch on Monday of the new African Bank marks the first time a fully fledged banking operation has emerged from curatorship in SA, and could serve as the basis for a new approach to resolving failed financial institutions.

Rand Merchant Bank analyst Elena Ilkova said the new bank would start off as a more conservative version of the old African Bank: “It is very clear that much will depend on the bank’s success over the next two years in diversifying away from the old African Bank’s monoline business model.”

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Curators hope for success with new African Bank Launch

Source: Business Day Live