Trustco Group Holdings Limited on Friday confirmed that the Bank of Namibia (BoN) has withdrawn its application in the High Court to wind up Trustco Bank Namibia, a former subsidiary of the group.
In a statement issued by Trustco, the company maintains the bank remains solvent.
Trustco says every depositor has been repaid in full and no depositor, creditor or stakeholder lost any money.
“Another case put to bed, another saga concluded. Trustco has navigated a series of complexes,” Trustco Group chief executive Quinton van Rooyen said.
He also welcomed the leadership of BoN governor Ebson Uanguta, saying: “We are confident that his expertise and skills are exactly what this strategic role demands.”
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