Old Mutual ‘cautiously optimistic’ ahead of 2025 bank launch

Stephen Grootes speaks to Old Mutual CEO Iain Williamson.

Listen to the interview in the audio below.

Old Mutual is set to launch a new bank in the first quarter of next year.

Williamson states that the new bank will target the mass market, which makes up most of their customer base in the rest of their business.

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“We have got a strong brand there.”

- Iain Williamson, CEO - Old Mutual

He believes their pricing and their features will make them very competitive in the market.

“We definitely think there is space otherwise we would not have done it.”

- Iain Williamson, CEO - Old Mutual

“Customers have voted with their feet and shown they like what we offer.”

- Iain Williamson, CEO - Old Mutual

Williamson says the company is 'feeling comfortable' with its numbers and growth, especially after a tough environment in the first quarter of the year.

He says the optimism in the country over the last few months has contributed to their confidence for the upcoming months.

“Interest cuts etc. are all helping us to feel that there is perhaps a little bit of an easier environment ahead of us.”

- Iain Williamson, CEO - Old Mutual

Scroll up to the audio player to listen to the interview.