Old Mutual Bank

Key details

• Parent: assets

Overview

Old Mutual Bank is Old Mutual Limited JSE: OMU South African insurance + asset management group banking subsidiary + one of South Africa's largest financial services groups by assets + Old Mutual Bank Old Mutual Bank App launched Sep 14 2024 as Old Mutual's South African digital bank ^{1, South Africa report}.

History

1845 — Old Mutual founded as Mutual Life Assurance Society of the Cape of Good Hope in Cape Town distinctive South African insurance heritage.

Sep 14 2024 — Old Mutual Bank launched as Old Mutual's South African digital bank + retail commercial bank.

Ownership & operator

Operating entity: Old Mutual Bank (Old Mutual Limited South African insurance + asset management group banking subsidiary).

Major shareholders: Old Mutual Limited (JSE: OMU; South African insurance + asset management group; Government Employees Pension Fund South Africa + Public Investment Corporation + South African retail + institutional + foreign investors free float).

Regulators: SARB South African Reserve Bank + Prudential Authority.

Technical integration

Old Mutual Bank App mobile (iOS + Android) + oldmutual.co.za/banking online + Old Mutual Bank Visa + Mastercard cards; ZA IBAN + ZA PayShap (South African P2P + retail real-time payment scheme) + ZA EFT.

Implementations & partners

Old Mutual parent: Old Mutual Limited (Old Mutual Limited; JSE: OMU; South African insurance + asset management group; Old Mutual Insurance + Old Mutual Investment Group + Old Mutual Wealth + Old Mutual Bank parent).

Major South African banking + payments competitors: Standard Bank (Standard Bank South Africa; JSE: SBK; Africa's largest banking group by assets) + FNB Banking App (First National Bank) (FNB South Africa; FirstRand Group; South Africa's largest banking group + 12M+ customers + eWallet pioneer) + Absa Bank (Absa Group South Africa; JSE: ABG; South Africa's #3 commercial bank by assets) + Capitec Bank (Capitec Bank; JSE: CPI; South Africa's largest commercial bank by customers) + Nedbank (Nedbank Money app) (Nedbank Group; JSE: NED; South African commercial bank; Old Mutual ~6%+ minority shareholder) + Discovery Bank (Discovery Bank; Discovery Limited Group; South African digital + behavioural bank) + Investec Bank (Investec Bank; JSE: INL + LSE: INVP; South African + UK private wealth management + specialist commercial bank) + TymeBank (TymeBank South African digital bank; ~10M+ South African TymeBank customers) + African Bank (African Bank; SA commercial bank) + Bidvest Bank (Bidvest Bank; Bidvest Group; South African commercial bank + foreign exchange specialist) + MTN Mobile Money (MTN MoMo South African mobile money).

Regulators: SARB South African Reserve Bank + Prudential Authority.

Status

Active, Old Mutual Limited JSE:OMU South African insurance + asset management group banking subsidiary + one of South Africa's largest financial services groups by assets + Old Mutual Bank App launched Sep 14 2024 as Old Mutual's South African digital bank ^{1, 2}.

Sources

• 1 Old Mutual Bank — official
• 2 Old Mutual — Wikipedia
• ^{South Africa report} In-corpus: reports/countries/ZA-south-africa.md

Source

Biography extracted from old-mutual.md. See matrix.md for standards-support matrix if present.