Why FNB dumped the Guptas

[Kevin Lancaster]

Why FNB dumped the Guptas

The FirstRand Group has revealed why it closed the Guptas’ bank accounts.

 

[BBSA]

They were happy to do business with the Guptas for years, they only closed the accounts then they feared a reputational risk.

 

[TysonRoux]

They were happy to do business with the Guptas for years, they only closed the accounts then they feared a reputational risk.

With that post count you better head off to your closest casino.

I don't question that they had good reason to close the Gupta accounts, but as you say, the timing is questionable. Maybe they got wind of Pravin or Thuli's investigations and wanted to come clean before they were exposed in the act.

 

[Eskimos]

They were happy to do business with the Guptas for years, they only closed the accounts then they feared a reputational risk.

Yeah, the negative risk finally outweighed the pros for them so they were kicked into action but at least they made a move. Some others are still clinging on and assisting the Guptas.

 

[Vrotappel]

They were happy to do business with the Guptas for years, they only closed the accounts then they feared a reputational risk.

Maybe like us they only became aware of what really was going on last year.

 

[Thor]

Maybe like us they only became aware of what really was going on last year.

Doubt it.

 

[BBSA]

Maybe like us they only became aware of what really was going on last year.

All the funny transactions was just normal business?

 

[whatwhat]

Maybe like us they only became aware of what really was going on last year.

Accounts that have the amount of money flowing through it that the Guptas has, well, that doesn't go unnoticed.