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Financial News

Recently, both Old Mutual Bank and YWBN took big steps towards launching their banks.

Also in the works is the transition of Postbank to stand alone bank and the Department of Women, Youth and Persons with Disabilities (DWYPD) cooperative bank. Fortunately, DWYPD are thinking of going with a more catchy name and will be a bit more like a fancy stokvel than competing directly with Capitec and FNB etc.

What this means is we could soon see 4 new local banks in South Africa.