Ithala Bank's future hangs in the balance as KZN Premier Thami Ntuli questions the ANC's claims of a successful intervention by Finance Minister Enoch Godongwana.

JOHANNESBURG - The future of Ithala Bank remains uncertain, as a tug of war over its license continues. The bank is facing an ...

The Congress of South African Trade Unions (COSATU) commends Finance Minister, Enoch Godongwana, for his decisive intervention in ensuring that Ithala Bank is saved and no longer liquidated.

The 257000 Ithala Bank clients have been unable to access their funds due to an ongoing liquidation application by the Prudential Authority (PA) under the South African Reserve Bank (SARB).

While mutual banks are very small in the banking sector, with total assets of less than R4.2 billion, the impaired loans as a ...

Finance Minister Enoch Godongwana has been roped in to prevent the liquidation of state-owned Ithala Bank. ANC provincial task team (PTT) convener in KwaZulu-Natal, Jeff Radebe, announced this at a ...

ITHALA Bank, a 60-year-old black-owned bank, is entangled in a legal battle as it fights to avoid liquidation, a fate deemed imminent by the Prudential Authority (PA) ...

Ithala SOC Ltd chief executive Peter Ireland and SOC Ltd chairman Molose Kekana listen to KZN economic development MEC Sihle Zikalala at the relaunch of Ithala Bank branch at Megacity, Umlazi.

The bank was bailed out with R105 million in March 2013 by its parent company, Ithala Development Finance Corporation (IDFC), to help meet its obligations in the course of its business.

The Prudential Authority has given Ithala Bank until June 2021 to submit its application for a banking licence in terms of the Banking Act. But the KwaZulu-Natal lender is sinking under ...

Ithala Bank is sinking under the weight of financial mismanagement, dodgy loans worth hundreds of millions of rands, extravagant spending and failure to comply with at least three laws, a series ...