July 03 - Gibraltar Savings Bank : No Sunborn Loan Or Investment

Written by YGTV Team on 03 July 2013.

A statement from the Gibraltar Savings Bank:

Following recent press statements suggesting that the Gibraltar Savings Bank may have provided a loan to Sunborn (Gibraltar) Ltd, the Gibraltar Savings Bank would like to clarify that it has not provided any such loan to Sunborn (Gibraltar) Ltd nor has it made any investment in this company.

The Gibraltar Savings Bank is not a credit institution and does not provide any loans.

Depositors should also note that under Section 8 of the Gibraltar Savings Bank Act, “the repayment of all moneys deposited in the Savings Bank together with interest thereon is guaranteed by the Government.”