African Bank benefits as bad debts decrease

African Bank released its interim results today, operating profit before tax is up 48% to R123 million, net profit is up 45% to R77 million this as the credit impairment ratio improved to 11% from nearly 14%, retail deposits increased by 90% and the bank says that it has progressed in its strategy to digitise the business and modernise its branch network. Basani Maluleke, CEO of African Bank joined Business Day TV for a closer look at the detail behind the numbers.