PROFESSIONALS
Mercantile to woo medical sector
Mercantile Bank says it sees medical professionals in private practice as entrepreneurs
Mercantile Bank CEO Karl Kumbier says the bank is targeting medical professionals in 2017 before rolling out offerings to other professionals, such as accountants and lawyers. It had launched a radio advertising campaign, would erect a billboard in the Cape Town airport and advertise via social media, he said. "Other banks don’t see medical professionals in private practice as entrepreneurs," Kumbier said on Tuesday. Mercantile Bank, which banked entrepreneurs only, hoped to become the go-to bank for small-and medium-sized enterprises (SMEs), he said. Just as Capitec and Investec were considered the number one consumer and private banks respectively, Kumbier said he hoped that, in future, "if anyone thinks SME, they think Mercantile". Mercantile Bank, which delisted six years ago, is 100% owned by Portugal’s Caixa Geral de Depósitos. It was one of only five banks with access to all payment streams in SA, Kumbier said. Mercantlie could "lend where the big four can’t", because of the ...
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