Old Mutual Limited Old Mutual has received Section 17 approval
2024年4月19日 - 3:00PM
RNS Regulatory News
RNS Number : 3054L
Old Mutual Limited
19 April 2024
Old Mutual Limited
Incorporated in the Republic of
South Africa
Registration number:
2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
LSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old Mutual" or
"Group")
Ref: 53/24
19 April 2024
OLD
MUTUAL HAS RECEIVED SECTION 17 APPROVAL TO ESTABLISH A
BANK
Old Mutual is pleased to announce
that, following a stringent regulatory review of its application in
terms of Section 16 of the Banks Act 94 of 1990, as amended ("Banks
Act"), the Prudential Authority has granted the Group approval to
establish a bank subject to certain licence conditions.
This approval, in terms of Section
17 of the Banks Act, allows Old Mutual to proceed to the next
critical stage in the process of establishing a bank. The Group
will now formally transition from 'bank build mode' and enter into
a strict and rigorous industry testing phase with selected bank
partners. Upon a successful error-free testing, the new OM Bank
will fully integrate into the National Payments System.
"The approval to establish a Bank is
a material catalyst in our strategic delivery journey. It
accelerates the fulfilment of our strategic choice to build an
Integrated Financial Services business and further strengthens our
victory condition to be our customers' first choice to sustain,
grow and protect their prosperity" said Iain Williamson, the Group
Chief Executive Officer.
Sandton
Johannesburg Stock Exchange
|
Tamela Holdings (Pty) Ltd
|
Malawi Stock Exchange
|
Stockbrokers Malawi
Limited
|
Namibia Stock Exchange
|
PSG Wealth Management (Namibia)
Proprietary Limited
|
Zimbabwe Stock Exchange
|
Imara Capital Zimbabwe
plc
|
Enquiries
Investor Relations
|
|
|
Langa Manqele
Head of Investor Relations
|
M: +27 82 295 9840
E:
investorrelations@oldmutual.com
|
|
|
|
Communications
|
|
|
Wendy Tlou
Interim Chief Communication
Officer
|
M: +27 83 301 9663
E:
oldmutualnews@oldmutual.com
|
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|
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Notes to Editors
About Old Mutual Limited
Old Mutual is a premium African
financial services group that offers a broad spectrum of financial
solutions to retail and corporate customers across key market
segments in 14 countries. Old Mutual's primary operations are in
Africa, and it has a niche business in Asia. With over 178 years of
heritage across sub-Saharan Africa, Old Mutual is a crucial part of
the communities it serves as well as broader society on the
continent.
For further information on Old
Mutual and its underlying businesses, please visit the corporate
website at www.oldmutual.com.
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