GoTyme Bank has reported its strongest year yet, with lending growth, rising digital adoption and a growing customer base supporting its ambition to become one of South Africa’s three largest banks by monthly active app users.
Speaking to Investor Xchange, CEO Cheslyn Jacobs said the bank’s priorities in 2026 were to accelerate growth, deliver customer value and improve execution, rather than overhaul its strategy. Jacobs, who took over in January, said his prior experience within the bank had reinforced his confidence in its current direction.
‘Well capitalised and managed’
Net customer advances rose 126%, although Jacobs attributed much of the increase to GoTyme’s acquisition of a 50% stake in the Sanlam personal loans business in June. Customer deposits increased 27% to R9.69 billion. He said the bank remained well-capitalised and liquid.
Total income grew 25%, while net interest income increased 18%. Jacobs said the changing revenue mix reflected non-interest income and increased customer transaction activity, alongside the bank’s savings and payments propositions.
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Successful migration to new app
More than 4.5 million customers have migrated to GoTyme’s new app. The bank has made instant payments below R5,000 free, which Jacobs said was shifting activity away from cash and ATM withdrawals towards digital payments and virtual cards.
Looking ahead, GoTyme plans to broaden its credit offering, including a credit card, while using transactional data to inform risk-based lending. Jacobs said the bank was satisfied with credit performance and emphasised responsible product design, pricing and timing.
With more than 13 million customers, GoTyme is increasingly focused on winning a greater share of everyday banking activity, rather than acquisition alone. Jacobs identified customer experience as its key differentiator, pointing to an improved service ranking in the Ask Afrika Orange Index.
The bank is targeting a place among South Africa’s top three banks by monthly active app users by the first quarter of 2027.
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