Postbank’s financial position expected to weaken this financial year
New projects will increase expenses, acting CFO Innocentia Pule tells MPs
The financial position of Postbank is expected to weaken over the next two years, with the bank’s revenues dropping 13% in the first four months of 2020, parliament heard on Wednesday.
The bank, which is not yet formally registered, is awaiting final approval by the Reserve Bank. It has been operating under limited conditions, such as accepting deposits and offering card-based transactional and savings accounts predominantly to the underbanked and unbanked segments of the population.