African Bank doubles retail deposits to R10bn
Retail deposits are expected to comprise more than 60% of the lender’s funding base as it seeks to diversify its financing
08 September 2021 - 12:34
African Bank said it has strengthened its balance sheet by diversifying its funding base to achieve a better balance between retail deposits and wholesale funding.
The bank, which was placed under curatorship by the Reserve Bank in 2014, said in an emailed statement on Wednesday that it had R10bn in retail savings and investments, up from R5bn in August 2020...
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