Following word from Saambou curator, John Louw, last week that there had been no single suitor to buy Saambou in its entirety, 20Twenty has told its clients it is "talking to like-minded parties to see how we can bring you better service, faster".
A statement by 20Twenty CEO Christo Davel on the bank`s Web site informs customers that the Reserve Bank has "come to the curator`s party" to ensure customers will have access to their money and to "restore confidence in the banking industry".
Davel explains that between the curator, the minister of finance and the governor of the Reserve Bank, it has been decided to pursue a public-private sector partnership to rescue the beleaguered bank.
This would mean that while the curator searches for a private sector partner - another bank - the government would provide the liquidity and solvency support.
However, Davel admits there is no time frame on just when an announcement would be made regarding the partnership.
Meanwhile, Davel informs 20Twenty credit cardholders that they should be able to use their 20one cards from early next week, reliant on the go-ahead from MasterCard.
Related stories:
No suitor for troubled Saambou - curator
Share
