Reserve Bank warns finance company

Minnow lender Asset Finance has had to amend its prospectus to clearly state that it is on its last warning from the Reserve Bank in terms of complying with minimum capital requirements.

The company has already been rapped over the knuckles earlier this year by the central bank for exceeding the 15% cap on related party lending.

Now it has been pinged again, this time for breaching minimum capital requirements, in force since December 2010.

 

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