Old Mutual guns for Capitec with mass-market bank plan
The insurance and investment group plans to launch a digitally focused bank to rival Capitec by the end of 2024
14 March 2023 - 19:24
Old Mutual is looking to make a comeback to the banking market by launching a digitally enabled mass-market lender capable of taking on Capitec in the second half of 2024.
The insurance and investment group has completed the first phase of regulatory processes required to begin its application for a banking licence ahead of a planned public market launch of the lending unit by no later than the end of 2024...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.