Abil falls by 65% after loss warning

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African Bank logo INDEPENDENT MEDIA

Johannesburg - Shares of African Bank Investments lose over half of their value, skidding to their lowest levels in 17 years, after the company warned it would fall to a full-year loss of nearly R6.4 billion and said its chief executive would step down after more than 20 years with the struggling mass-market lender.

The company's shares fell as much as 65 to 2.39 rand and was last quoted down R4.06 at R2.82 compared with Tuesday’s close of R6.88. - Reuters



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