Court clears FNB of racism charges

Acting Judge Louis Vorster made specific note that the allegations of racial bias against black people were "completely unfounded". In addition‚ the cession of claims Van Zyl obtained from former Saambou customers were described as bad in law and of no force of effect.

THe said these cessions were driven by Van Zyl's desire for personal financial gain.

The judge noted "the superficiality of his [van Zyl's] analysis‚ upon which his conclusions are based‚ brings to mind the English expression 'fools rush in where angels fear to tread,'" he said.

The judge continued that the "Plaintiff over-confidently made false allegations pertaining to a field he is wholly unqualified to venture an opinion on."

Vorster also noted that Van Zyl‚ clearly shows a "malicious disregard for the facts" and "an over-riding desire to continue his vendetta against the defendant."

In addition‚ Vorster found that Saambou had not acted incorrectly or unreasonably in making interest rate changes to its home loan accounts. "As such there is no claim for any damages against FNB by former Saambou homeloan customers," he said.

FNB has‚ following this decision in the North Gauteng High Court‚ closed claims related to Saambou.

FNB's chief marketing officer Bernice Samuels said: "The Supreme Court of Appeal case made specific note of the abuse of allegations of racism. The court said [in that case] that racism is such a serious charge that care should be taken to ensure that such a complaint is well founded. A contrived charge is deserving of censure."

"It is s believed that FNB acted legally and correctly and we are pleased that the bank has been vindicated by the decision of the court‚" added Samuels.

"We trust that today's judgment will finally and decisively set the record straight and assure our customers of our integrity‚" she said.