Johannesburg - African Bank has decided to shift its focus to medium to lower income earners amid the possibility of restructuring and job cuts at the bank, it was reported on Sunday.
According to the Sunday Times, African Bank’s head of disbursement, Alfred Ramosedi, said: “We want to see responsible growth; growth through decent loans that people are able to pay back.”
The bank said they had opened branches in Fourways Mall, Eastgate and Clearwater Mall in Gauteng, to accommodate new middle income customers.
Meanwhile, according to the Sunday Times, the bank has been having problems in their sales and collection departments which could lead to more job cuts.
“The current retrenchments and redeployments are all non-unionised staff from the head office here,” African Bank curator Tom Winterboer is reported to have said.
The bank said an information memorandum would be released on the possibility of further restructuring.
ANA