African Bank improves its credit-loss ratio, looks to diversify funding & product portfolio

PUBLISHED: Tue, 26 Nov 2019 16:05:30 GMT


African Bank says the launch of its on-line banking channel, MyWorld has led to an increase in trust and retail depositors. The bank says retail customer deposits jumped 115 per cent to R2.4 billion vs R1.1 billion in the previous year. African Bank’s credit-loss ratio improved to 7 per cent from 11.7 per cent while its gross advances book is up 9 per cent to R30 billion. African Bank CEO, Basani Maluleke joins CNBC Africa for more.

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