Picture: FREDDY MAVUNDA
Picture: FREDDY MAVUNDA

African Bank reported on Tuesday that operating profit before tax for the six months to end-March was up 48% to R123m and net profit increased by 45% to R77m

The credit impairment ratio improved to 11% from nearly 14% and retail deposits increased by 90%.

The bank said it had made progress on its strategy to digitise the business and modernise its branch network.

CEO Basani Maluleke spoke to Business Day TV to give some of the detail behind the numbers.

CEO Basani Maluleke talks to Business Day TV about the bank’s interim results, which were released on Tuesday

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