CORRECTED-African Bank says its "Good Bank" receives approval from cenbank

August 27, 2015 11:13 AM

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JOHANNESBURG Aug 27 (Reuters) - Troubled South African lender African Bank Ltd said on Thursday its so-called "good bank", which contains its healthy assets, has been given a go-ahead to start operations by the central bank as well as a licence from the Financial Services Board.

"Commencement of operations is dependent on the final registration of Good Bank as a bank under ... the Banks Act," African Bank said in a statement.

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