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S.Africa c.bank says to look for "long-term solution" for Abil
August 6, 2014 / 1:56 PM / 3 years ago

S.Africa c.bank says to look for "long-term solution" for Abil

JOHANNESBURG, Aug 6 (Reuters) - South Africa’s central bank said on Wednesday it would meet with the board and senior management of African Bank Investments to discuss “viable, long-term solutions” for the troubled mass-market lender.

Abil, as the bank is widely known, warned on Wednesday it needed to raise around $800 million from shareholders after it flagged a full-year loss and its chief executive quit. (Reporting by David Dolan and Stella Mapenzauswa; Editing by Joe Brock)

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