Old Mutual says it is on track to launch a new bank in South Africa next year.
Financial group Old Mutual says it is making progress in establishing a new bank in South Africa, having spent R1 billion on capitalising the project so far.
“We are making good progress across our portfolio of new growth engines. While these currently represent a small part of our business, our investments in these initiatives are critical to ensuring sustainable growth over the long term. Old Mutual already has existing lending and transactional solutions – an unsecured lending product and the Old Mutual Money Account – with the latter handled through a partnership with Bidvest Bank.
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