Investec, an Anglo-South African banking group, announced on Wednesday (August 4th) that it had launched a new banking product aimed at businesses and entrepreneurs. In its statement, the group said it offers a comprehensive portfolio of products, services and capabilities for established entrepreneurs and midsize businesses.
The offering, he points out, is based on a transactional banking solution that complements Investec’s existing finance, foreign exchange, treasury management and private banking services.
“Although we are not known as an investment bank, we now have a complete end-to-end business proposition,” said Richard Wainwright, Managing Director of Investec Bank adding that “this new offering now offers a suite business solutions adapted to the specific needs of companies ”.
With the new product, Investec said companies will gain transactional capabilities including access to secure online platforms through multiple digital channels.
In addition, the bank listed on the London Stock Exchange and the Johannesburg Stock Exchange said it had succeeded in attracting a significant number of business customers in 2020 despite the difficult conditions due to the coronavirus pandemic.
According to the bank’s statistics, Private Business accounts increased by 9.9% in the first quarter of 2021 compared to the same period of 2020. The loan portfolio of the Investec for Business division also increased by 11.2% at the same period considered.