Trustco Bank Namibia (TBN), a subsidiary of Trustco Group Holdings, yesterday vowed to swiftly and responsibly resolve the immediate suspension of its operations by the Bank of Namibia (BoN). The central bank temporarily suspended Trustco Bank on Friday with immediate effect for six months on condition that the local bank rectifies stipulated conditions.
Announcing the suspension via a statement, BoN assured TBN depositors that they will have access to their funds during this suspension period. The central bank also implored TBN customers to ensure they meet any loan repayment obligations during this time.
Trustco Group CEO Quinton van Rooyen yesterday noted via a statement that “while this suspension poses new obstacles, Trustco remains unwavering in the quest towards economic justice for all Namibians. Our mission has always been financial inclusion and wealth-creation. Trustco Bank represents a crucial avenue for advancing this purpose. We appreciate the patience of stakeholders as we remain committed to resolve this matter swiftly and responsibly, guided by our enduring vision for Namibia’s future”.