Johannesburg - Oakbay Investments, a company controlled by the Gupta family, said FirstRand’s First National Bank unit closed its company accounts.

This was about three months after Barclays Africa Group’s Absa unit did the same.

“We find the timing of FNB’s decision staggering given Oakbay’s accounts are in excellent financial health and we have been a loyal and profitable customer for many years,” Oakbay Investments, a holding company that controls Oakbay Resources, said in a statement.