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African Bank posts R44m interim loss but anticipates ‘returning to profitability’ for full year

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GUEST – Zweli Manyathi - Group Executive Bussiness Banking - African Bank

African Bank Group’s interim financial results for the six months ended 31 March 2023 demonstrate noteworthy progress in the Group's ongoing strategic aspiration for diversification, growth and scale. Operating income has increased by almost 50% and its expanded customer base has increased by 193% in 12 months.

During the first half of 2023, African Bank achieved notable milestones in its growth & diversification journey, marked by the successful acquisitions of Grindrod Bank and the assets and liabilities of Ubank.
7 Jun 2023 5PM English South Africa Business News · Investing

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