Johannesburg - The EFF has reiterated its calls for the Venda Building Society (VBS) to be saved through recapitalisation.
Questions around VBS’ financial stability came after the bank was placed under curatorship earlier this year after it faced a liquidity crisis.
In a report released last week, which was commissioned by the SA Reserve Bank, it was found that 53 people received various illegal payments from VBS over a couple of years. The payments amounted to R1.89 billion.
These illegal payments had placed the depositors’ monies at risk.
Advocate Terry Motau, who headed up the investigation into the bank, said in the report titled 'The Great Bank Heist' that it was unlikely that the bank could be saved.