African Bank Holdings, which announced the surprise departure of CEO Basani Maluleke on Monday, has reported a loss in its year to end-September 2020 as Covid-19 hit SA’s economy and the creditworthiness of its customers.

SA’s sixth-largest retail bank by customers said on Tuesday it has not given up on growth and is stepping up its focus on digital banking to grow customers in the wake of the pandemic, even though the struggling economy forced it to tighten lending criteria more than once in 2020...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now