African Bank CEO Basani Maluleke. Picture: FREDDY MAVUNDA
African Bank CEO Basani Maluleke. Picture: FREDDY MAVUNDA

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.

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