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S.Africa's central bank to announce 'measures' for troubled lender Abil
August 10, 2014 / 12:06 PM / 3 years ago

S.Africa's central bank to announce 'measures' for troubled lender Abil

JOHANNESBURG, Aug 10 (Reuters) - The South African Reserve Bank will make an announcement about planned measures for troubled mass-market lender African Bank Investments at 1400 GMT on Sunday, the central bank said in a statement on its website.

Investors fled shares of the bank last week after the unsecured lender said it needed to raise 8.5 billion rand ($800 million) from a flood of loans gone bad, raising concerns about its ability to ride out the crisis.

1 US dollar = 10.6540 South African rand Reporting by David Dolan; Editing by Pascal Fletcher

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