African Bank aims at tripling net profit as it targets 2025 listing
A ‘pre-IPO’ might be on the cards for mid-2023, CEO Kennedy Bungane says
29 November 2022 - 09:16
UPDATED 29 November 2022 - 17:03
African Bank Holdings says it is on track to more than triple its net profit over the next three years as it gears up for a listing that it has said will take place by 2025.
The group, which houses lender African Bank and sells credit life insurance and funeral policies, expects to deliver net profit upwards of R2.5bn when it presents its full-year results in 2025. That would be more than three times the R736m in after-tax net profit it reported for the year to end-December...
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