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TymeBank is 2 million clients strong

TymeBank, South Africa’s digital banking, owned by Patrice Motsepe has reached a new milestone of 2 million customers.  News24 also indicated that, out of the 2 million-strong client base of the Tymebank, about 400 000 were added during the South African lockdown.

“We wouldn’t be 2 million strong without you,” Tymebank writes on Facebook. Tymbank had set the target by the end of 2020 and seems Christmas came early for the digital bank.

The Tymebank CEO, Tauriq Keraan was very pleased with the numbers and the steady growth thereof the active customers standing at an estimated 1.2 million

“Notwithstanding the strong growth in overall customer numbers, we are in particular pleased with the steady growth in the number of active customers, currently at nearly 1.2 million. “

“We also observe that these customers tend to use their accounts more actively as they become more familiar with the benefits,” he added.

The bank accumulated 120 000 new customers per month which can roughly amount to about 4000 customers per day, R10 billion in customer deposits have made to date.

Tauriq Keraan replaced Sandile Shabalala as CEO.  Keraan was born and raised in Bo-Kaap in Cape Town. He started his financial journey in 2007 when moved to Standard bank from Deloitte.


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