VBS Mutual Bank Louis Trichardt
VBS Mutual Bank Louis Trichardt,
Information about the VBS Bank Louis Trichardt branch is given beneath.
Branch Manager: Takalani Davhana
29 Songozwi Street
Tel: (015) 516 0359
Tel: (015) 516 3542
Fax: (015) 516 2112
Prior to 2014 the bank was relatively small and primarily involved in retail banking with many of its depositors consisting of burial societies and stokvels. The bank in turn issued mortgages and short term loans to its clients allowing them to use their property or banking deposits as collateral. The South African Public Investment Corporationinherited its shares in VBS bank when it succeeded the pension fund of the Venda bantustan government thereby giving it a 25% ownership stake in the bank. Largest shareholder in the bank was the Venda royal family which owned 51% of the bank.
Prior to coming under curatorship in 2018 the bank gain notoriety in 2016 when it gave a R7.8 million loan to then President Jacob Zuma when he was ordered to repay the state for controversial improvements to his personal homestead at Nkandla.