African Bank’s zero-fee online banking channel, MyWorld, has helped more than double its annual retail deposits.
African Bank expects this transactional banking product to fast-track the company’s efforts to broaden its customer base and diversify its revenue streams. Operating profit is up 11% while net profit after tax grew 12%, marking the third consecutive year of profit growth. CEO Basani Maluleke joined Business Day TV to talk about the growth the bank has enjoyed, despite the current economic climate.
Impressive turnaround, is it too early to say they are heading for equitable share in their market , how will the new players in industry play their cards in claiming their spot , interesting time indeed in banking industry.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH: Why S&P downgraded SA’s outlookS&P Global sovereign ratings director Ravi Bhatia talks to Business Day TV about what SA needs to do to return to a stable outlook
Source: BDliveSA - 🏆 12. / 63 Read more »
WATCH: What SA Inc views as SA’s biggest riskQuinten Matthew from Santam talks to Business Day TV about a recent survey into insurance trends
Source: BDliveSA - 🏆 12. / 63 Read more »