Absa moves to grab market share with mobile branches
The bank is targeting 100,000 new accounts a month as it looks to win back market share
Absa, SA’s fourth-biggest lender by market value, wants to bring banking back to the people by using mobile branches to lure new customers on farms and taxi ranks, while also expanding its physical branch network in rural areas, even as rivals such as Standard Bank and Nedbank slash their branch footprint.
In a market dominated by Capitec, Absa has set itself the ambitious target of adding 100,000 new accounts a month...
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