Nedbank to pay for mortgages under new rewards scheme
Its Greenbacks programme was overhauled this year as the country’s biggest lenders step up efforts to win and retain customers following the launch of a number of upstart banks.
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.113 days ago
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.238 days ago
Deputy CEO Tauriq Keraan told a presentation on Tuesday that TymeBank could break even in 2022 if it attracted 2.2 million active customers and lent to 6% of them.268 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.352 days ago