Postbank to become South African Post Bank

Postbank, currently a division of the South African Post Office, will become a fully-fledged bank, trading under the name South African Post Bank Limited, which will encourage and attract savings amongst rural and lower income communities of South Africa. This follows the approval of the parliamentary South African Postbank Limited Bill. One of its primary objectives is to expand the range of banking services to the unbanked and underserved communities and develop into a bank of first choice for these communities.