In townships, 'unseen' businesses catch a big bank's eye
FNB has set its sights on the townships as it prepares to defend its No. 1 position from rival Capitec and new digital lenders such as TymeBank and Bank Zero which have shaken up the retail market.
The launch over the last few months of three digital banks promising fees as low as zero looks set to trigger a price war in the country where more than 80% of the population already have bank accounts.305 days ago
It will be first time the $30 billion industry has faced competition since the early 2000s, when Capitec Bank muscled into a sector dominated by Absa, FirstRand , Nedbank and Standard Bank.419 days ago