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Sasfin kills its banking operation - A tale of how fraud can destroy a business

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Sa Reserve Bank,South Africa,Finance

Sasfin noted that it had a R58 million headline loss in its year ending June.

The company’s headline earnings per share plummeted 190% to a loss per share of 152.15 cents for the year to June 30.

The company also said that it plans to de-list from the Johannesburg Stock Exchange by the end of 2024. “Sasfin, its board and management deeply regret that this fraudulent activity took place in our organisation,” it said.

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