South Africa’s new bank with 2,500 branches sets the record straight

• Pepkor has denied reports of a personal banking tie-up with Standard Bank and confirmed it is not engaged in talks with any bank for a strategic partnership.
• Pepkor is planning to establish an independent bank with over 2,500 branches across South Africa, which will be a part of its broader financial services strategy.
• The new bank is expected to launch next year, following Pepkor's acquisition of approval from the Prudential Authority in November.