This is the first time Sarb has undertaken a good bank bad bank separation. Unprecedented #africanbank

A consortium comprsing the big-four banks, Capitec, Investec & PIC will underwrite a R10bn capital raising for #Abil

Saambou and Regal Bank were the last banks to be placed under curatorship in South Africa (both in 2002). #Abil

So the board and management of #ABIL walk away without any need to account for bringing a bank to its knees? #SARB

ABIL the the bad book currently has a book value net of specific impairments of R17 billion for whichthe SARB will pay R7bilion billion

I guess new management will revisit it @AfricanStylista: What does this mean for the Edgars deal? #ABIL

+1 Inkunz'Emnyama: Well done to Governor Gill Marcus and her team on decisive action! #africanbank ! Great job! #JSE

I bought #abil shares a few months back & lost 15% the very next day. It's worse for those who lost 95% last week. Dineo

Justice Malala Inkunz'Emnyama Curators must run an interrogation. Those with a fiduciary duty must be held accountable . #ABIL

Reserve Bank places African Bank under curatorship. mny.co.za/5fha via @moneyweb

As I expected, shareholders wiped out, bondholders take small haircut. A good bank to be reconstituted from afresh. Positive outcome.

PwC for now. Yeah, scary "Zenzo L: Stuart Theobald @S_mash91 question is who will manage the new #AfricanBank?"

ABIL So SARB buys the bad debtor book worth R17b for R7b is this a good or bad buy? Can they do this without shareholder approval?

I think Magnus Heystek is my new favourite person!His articles on Moneyweb News are remarkably entertaining!

Coronation: As outsiders we do not yet know why the book performed so much worse than representations made by management portrayed. #Abil

Coronation's letter to clients ends... Losses have been incurred, for which we apologise...This has been a humbling experience for us..