JOHANNESBURG – The newly appointed chief executive of TymeBank, Tauriq Keraan, said on Wednesday that he was confident the fledgling bank would hit the 1 million customer mark before the end of the year as the bank readied itself to launch its unsecured loan product in the first half of next year.
Keraan said the bank was attracting 110 000 new customers on a monthly basis since going live as the country’s first fully digital bank in February with its customer base now at 600 000.
“We do not have a mentality of growth at all costs. Our first obligation is to look after our customers and ensure we fulfil their financial needs and ensure financial inclusion.
"My appointment does not in any way mark a change in strategy,” Keraan said. “In fact, in my previous role as deputy chief executive I was responsible for strategy. Our acute focus is executing against the strategy we already have in place.”
He said the bank was piloting its loan proposition and expected the product to be available in the market in the first six months of 2020.