Trustco Bank Namibia ceases to operate

Former Trustco Group subsidiary, Trustco Bank Namibia, has successfully concluded its voluntary banking operations closure process which began on 23 August 2024. Followingextensive efforts to contact and reimburse all depositors together with accrued interest, the bank confirms that all remaining unclaimed funds have been transferredto the Guardian Fund under the authority of the Master of the High Court, in compliance with the Bank of Namibia's directive."We have made significant efforts to contact every client and facilitate clients with the collection of their deposits," said Riaan Bruyns, Acting CEO of former Trustco Bank Namibia. "While we've successfully disbursed nearly 80% of all deposits, we have now taken the final step of transferring the remaining unclaimed deposits together with interest as of 28 February 2025 to the Guardian Fund to ensure all our former clients' money remains secure and accessible to them when they come forward."A final notification has been sent to all former clients with unclaimed deposits, providing instructions on how to contact the Guardian Fund to claim their funds, effective 3 March 2025. Former Trustco Bank Namibia clients can now liaise directly with the Guardian Fund for any further claims. Guardian Fund Contact Number: 061 292 1201.With the completion of this final transfer, former Trustco Bank Namibia has fulfilled its obligations pertaining to the disbursement of client deposits. The company affirms that 100% of its clients' deposits, along with accrued interest, have been accounted for and distributed to either former clients or, in cases where clients' deposits remain unclaimed, to the Guardian Fund. This action underscores the former Trustco Bank Namibia's commitment to regulatory compliance and the maintenance of financial integrity.

Trustco Bank Namibia ceases to operate

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Namibian Sun 2025-06-17

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Trustco Bank Namibia ceases to operate

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Namibian Sun 2025-06-17

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