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Ubank placed under curatorship

The bank, which serves rural communities and mineworkers, has a capital adequacy ratio of just 3% vs an industry-wide average of more than 15%

16 May 2022 - 17:20 By Garth Theunissen

The Prudential Authority (PA), the regulator of financial services that falls under the auspices of the Reserve Bank, has announced that Ubank has been placed under curatorship for failing to maintain adequate capital levels, as required by the Banks Act...

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