AS the State capture Inquiry continues, Nedbank CEO Mike Brown told inquiry that the company identified reputational risk of being associated with Gupta companies as key.
Brown says in 2016, he requested the chief risk officer to escalate the review of gupta owned entities that had accounts them.
According to Brown, this was done because of the escalating negative media reports about the family.
Brown further stated that reports in March 2016, of the family being implicated in the alleged offering of the minister of finance position to deputy finance minister Mcebisi was viewed as "an extremely serious allegation".
He says there was no collusion with other major banks to unilaterally close the Gupta related companies accounts.
Brown told the inquiry that his PA received a request to attend a meeting at Luthuli House, on 20 April 2016 and the request came from Enoch Godongwana.
He explained that the meeting at Luthuli was generally to get a better understanding of why banks closed the Gupta accounts.
"I was never called to talk about closure of a client account," he said.
Brown says when he left the Luthuli Meeting he never felt pressured to open Gupta accounts.
However, Brown says having raised concerns of the government officials attending the IMC meeting with Nedbank about the closure of Gupta-associated accounts.
He raised concerns that finance minister Gordhan was not in attendance, but the former Mineral Resources Minister Mosebenzi Zwane, assured him that Gordhan was aware of the meeting.
Brown said that he learnt later in a letter by Gordhan which disputed this.
He further explained that he felt that numerous references in the meeting (IMC), to the licencing regime was pressure that was being placed on the bank.
