Databank not collapsing – Management

The management of Databank has dismissed rumours that the financial institution is “unable to pay withdrawals.”

The fund management outfit said the claim is “mischief meant to create unnecessary panic.”

“Databank has never, at any point in its history, failed to honour its obligations to its customers. We have a proven track record and strong governance structures that have been instrumental in protecting investors’ funds over the past 28 years,” Gillian Hammah , Group Chief Marketing Officer of Databank stated in a notice.

“We run our business in a credible, sustainable manner and will not put our customers’ funds at any unnecessary risk.

“It is for this reason we do not seek to give the highest returns among our competitors, especially if it means taking unnecessary risks that could prevent us from being able to honour withdrawal requests.

“If you have any questions, we will be on standby to assist. We also encourage you to contact our regulator, the Securities and Exchange Commission, for their views on Databank,” the notice added.