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This intervention is to protect the interests of DCB’s depositors, as the bank failed to meet its obligations for an extended period, despite being granted multiple opportunities to take corrective action.
A resolution practitioner was appointed to manage DCB’s operations and safeguard depositor funds, while the SARB took over the authority previously held by the Board and management.
As a registered bank, DCB’s qualifying depositors (individuals and non-financial corporates) are covered by the Corporation for Deposit Insurance for the full amount of their positive account balances, up to R100 000.
Find all the related documents and updates attached below.
