KZN ANCYL tells Absa to 'pay back the money'

The league says it is embarking on a series of protests in the province against the bank today. 

Some members have already gathered outside a branch in the Durban CBD. 

Provincial secretary, Thandoxolu Sabela says their protest is part of a national call for action against Absa.

"Part of our demand is the call for Absa to pay what has been determined by the Public Protector as irregular transfer from the SA Reserve Bank to Absa," says Sabela.

Remedial action in a leaked provisional report by the Public Protector includes Absa paying back R2.5 million to the fiscus. 

Absa said in a statement earlier this month that it was regrettable that the report was leaked before further submissions and finalisation, saying it perpetuates an incorrect view that Absa benefited from undue SA Reserve Bank assistance.