News
South Africa’s Post Office converts unit to bank
Published By
pmnews
Date
31st January, 2017
South Africa’s Post Office Group will submit an application to register its financial services unit, Postbank, as a bank by July 3.
The group’s document handed out to parliament showed on Tuesday.
The document showed that Postbank has 1.4 billion rand ($104 million) in excess capital, enough to meet regulatory minimum requirements for a bank.
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