South African digital bank Time Bank Appointed Karl Westvig He will take up the role of new CEO on October 1, 2024.
Current CEO Koenrad Jonker will focus on his role as Chairman of the Board of Time Group, overseeing the growth of the multi-country digital banking group.
Currently serving as CEO of TymeBank’s consumer and corporate banking division, Westvig has extensive leadership experience in lending and fintech.
He has previously founded various finance companies including RCS Group and Retail Capital, which is now part of TymeBank.
TymeBank co-founder Jon Carr has been CEO for more than two years, during which time the bank has Achieved profitability December 2023.
Valued at approximately US$1 billion, TymeBank is one of the world’s fastest growing digital banks and the first bank in Africa to achieve profitability.
Tyme Group currently serves 12.5 million customers.
Karl Westvig
Westvig said:
“TymeBank’s rapid growth has been phenomenal and I am joining a talented team with a clearly strong foundation.
My focus will be to deliver on our stated goal of being a top three bank in terms of customer satisfaction, customer growth and shareholder returns.”
Koen Jonker
Jonker added:
“I am grateful for all we have accomplished together at TymeBank, which already has 3 million customers and is the fastest growing bank in the Philippines.
We are now I input it We will launch our first products in Vietnam and aim to be in Indonesia by the end of the year. Our ambition is to list the business in 2028.”
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