TymeBank gets $9.5M investment amid 59% deposit growth and improved merchant credit
- TymeBank secured R169 million investment from African Rainbow Capital.
- Deposits grew by 59% to R6.5 billion.
- Merchant credit advances rose to R1.8 billion.
TymeBank's rapid growth and recent profitability indicate a strong potential for future success in the competitive digital banking landscape. However, the bank must navigate challenges in expanding into new markets while maintaining its focus on serving economically marginalized groups.
