TymeBank has reached 10 million customers and R7 billion in deposits in under six years, making it South Africa’s fastest-growing bank in 2024. TymeBank CEO Karl Westvig highlighted profitability and breaking even as key milestones achieved by serving low-income communities. Looking ahead, the bank plans to attract affluent customers by enhancing its banking app and leveraging partnerships with The Foschini Group, Pick n Pay and Boxer. Additionally, TymeBank’s acquisition of Retail Capital has bolstered its SME lending, with over R12 billion disbursed to small businesses so far. According to Westvig, the bank remains focused on medium- to long-term growth through products like unsecured lending, transactions and savings.
