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African Bank collects up to R2.4bn a month

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Johannesburg - African Bank continues to operate in a stable manner with total monthly collections varying between R2.075bn and R2.475bn between August 2014 and January 2015, African Bank, which is under curatorship, and its parent company African Bank Investments [JSE:ABL] said in a joint statement on Monday.

Total monthly disbursements have varied between R550m and R750m between August 2014 and January 2015. This is in line with the lower risk appetite and expectations, according to the statement.

African Bank continues to operate in a stable manner, with loan disbursements and loan collections in line with expectations, according to the joint statement on Monday.

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