In South Africa, banks have to secure consent from the borrower if the bank wishes to securitise the loan, allowing the bank to bundle in the loan with other loans and sell it to new owners. In 2014, South African courts made a number of rulings against Absa's mortgage loan division in a number of summary judgements against clients who had taken out loans with the bank and who the bank had accused of defaulting on their loans. In August 2014, Absa brought a case against James Grobbelaar and Kevin Jenzen for allegedly defaulting on their home loans. However, Absa was unable to provide proof of the loan agreements, claiming that they had been destroyed in a fire in 2009 and instead presented an unsigned blank loan agreement. In November 2014, Absa withdrew a case it brought in the North Gauteng High Court against Emmarentia and Monica Liebenberg for allegedly defaulting on loans taken out in 2007, with the bank being unable to provide an electronic copy of the documents. The Liebenberg's accused the bank of trying to bully them "into submission, by threatening legal costs and expenses and by pursuing a wrongful summary judgement application knowing full well the massive disputes involved." The Liebenbergs also stated in their affidavit that the bank inflated the interest rate of the loan and charged additional fees that were never agreed to. See also List of companies traded on the JSE List of companies of South Africa List of banks List of banks in South Africa Economy of South Africa References External links Official website Banks of South Africa Barclays Banks established in 1991 Financial services companies established in 1991 Companies based in Johannesburg Companies listed on the Johannesburg Stock Exchange South African companies established in 1991