Absa seeks court orders to remove KCB-Appointed receiver managers.
Absa Bank
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- Hot News
Absa Bank, linked to tycoon Baloobhai Patel, faces pressure over $1.5-million refund dispute
Absa Bank linked to tycoon Baloobhai Patel wins $1.5-million (Sh215 million) refund case; KDIC appeals fearing impact on deposit insurance fund.
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Customer deposits also climbed 14.47 percent to Ksh359.46 billion ($2.74 billion), reflecting the bank’s customer-centric approach.
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Patel’s latest acquisition reflects a significant year-on-year increase in his Absa holdings. In December 2022, he held 47.57 million shares (0.88-percent stake).
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The growing number of legal disputes surrounding Bitature has raised concerns about his financial standing.
- Southern Africa
Mutumwa Mawere may lose his R2-million luxury apartment in South Africa
by Ishioma Emiby Ishioma EmiA failed loan repayment to Absa Bank has put the Zimbabwean tycoon into a financial bind.