News:Trust Bank under final liquidation

<vote /> Trust Bank which is a subsidiary of Trust Holdings has been placed under final liquidation and shareholders have been given 14 days to appeal against the decision. The bank was placed under provisional liquidation in October 2014 in order to allow the bank to conclude its recapitalisation deal with an undisclosed South African investor.

The Reserve Bank of Zimbabwe cancelled the bank's licence over allegations of abuse of depositors' funds and violation of the Banking Act in December 2013.

However Deposit Protection Corporation chief executive Mr John Chikura could not be reached for comment.