Category: African Bank
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African Bank: Has 36ONE left themselves exposed?
Now that everyone has had a week to get used to the fact that African Bank is no longer freely trading on the JSE, people are beginning to speculate on the value of the new “good” bank and the dismal-ness of the bad bank and the structure of the restructuring (we’re all still in the […]
read moreAfrican Bank: Why Liquidation Is A Destruction Of Value
Yesterday – yesterday was the day of much public opinion. And much of the opinion fell in the direction of “abuse of taxpayer money”* and “African Bank should have been allowed to fail”. *I already dealt with this yesterday. There is no taxpayer money at play here. The SARB has bought a R17 billion loan book (that’s […]
read moreAfrican Bank: How I LOVE me a bailout.
At 4 o’clock yesterday afternoon, I did a lot of this: And in case you missed Thursday’s post, here it is: And I give you…African Bank. A brief background: African Bank gave out a profit warning on Wednesday, as well as announcing the need for a new R8.6 billion capital raising and the resignation of […]
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