Standard Bank has strongly denied a series of allegations circulating on social media, describing claims made by Dr Anele Mngadi Hammond as “false and baseless.”
In an official statement, the bank said the matter relates to a historic vehicle finance agreement concluded in 2018 involving the purchase of a Ferrari. The dispute, according to the bank, stems from a valid and enforceable financing arrangement.
The bank noted that videos shared online by Dr Hammond contain “serious allegations of impropriety,” including claims of criminal conduct by the institution and its representatives. However, Standard Bank firmly rejected these accusations.
“The suggestion that Standard Bank and its representatives have engaged in or authorised criminal activity, including fraud, is false and baseless,” the bank said.
Standard Bank explained that, in line with its normal collections processes, it engaged with the client over a period of time to resolve the outstanding debt. The bank stated that Dr Hammond voluntarily agreed to settle the matter, and that the agreed amount was ultimately paid. As a result, the bank did not repossess the vehicle linked to the agreement.
The bank also dismissed claims that it had conceded in court that fraud had taken place, clarifying that such allegations were not included in the original 2020 summons filed by Dr Hammond, her daughter, or the associated trust.
“Standard Bank denies that it conceded in court that a fraud had been perpetrated,” the statement read.
Reaffirming its stance, the bank emphasized its long-standing reputation and commitment to ethical conduct, stating that as a 163-year-old institution serving millions of customers, it places the highest value on trust, integrity and accountability. The bank added that it operates under strict regulatory oversight and robust internal controls, and will “vigorously defend” its reputation against what it termed malicious falsehoods.
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