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 Home About Teba Bank > Corporate Profile BACKGROUND Teba Bank is the 9th largest Bank by assets with deposits of over R3bn and according to the most recent Markinor Surveys of 2008, is the 8th most recognised banking brand in the country. Teba Bank is a well established financial services provider that has grown over the years and managed to entrench itself primarily within the gold and platinum mining communities. The mandate and plan to service the broader working market in South Africa has become imperative in order to extend affordable financial services to South Africa. Operating in Southern Africa (South Africa and on a limited basis through Teba Ltd agencies in Mozambique, Lesotho and Swaziland) we have a strong presence and customer accessibility, mainly in selected mining and rural communities in South Africa. Teba Bank: Workers Bank of Choice Teba Bank has a rich history of providing basic financial services to mineworkers and their families for over 30 years. In 1976 when other financial institutions largely ignored this sector of the market, Teba Cash Financial Services was formed to provide mineworkers with basic financial services. This included facilitating the remittance of funds to families and dependents in the rural areas using a linked account facility. In the early nineties, South Africa was undergoing fundamental change as a country and the time was ripe to transition the savings fund into a commercial bank. The origins and philosophy of Teba Bank In June 2000, Teba Bank was granted a banking license, although its ownership remained in the form of a Trust managed by trustees elected by the National Union of Mineworkers (NUM) and the Chamber of Mines. The beneficiaries of the Trust are the Bank`s customers and the NUM has publically claimed the Bank as a workers asset. Teba Bank is driven by a social consciousness that underpins all they do - their customers are their owners and they exist to serve them through the provision of financial services that meet their needs and improve their lives. Teba Bank is focused on participating meaningfully in communities where customers live and work through providing access to affordable financial services, treating people with dignity and respect and educating them to manage their finances. The Bank commissions regular surveys amongst its customers and target market by independent research companies and the latest survey shows that customers perceptions of Teba Bank are as follows:
It is of the utmost importance to the Bank to ensure that it builds on these perceptions and continues to improve the customers experience each time they interact with the Bank. Therefore, the Bank has embarked on a brand revitalisation programme, upgrading the look and feel of its branches and enhancing the customers experience within the branch network. Customer service is one of the Banks prime movers and - within the branch network - Teba Bank assists illiterate customers to fill out deposit and withdrawal slips and communicates with customers in their own language. Preparing for the future Teba Bank is using its experience with mineworkers to cater for all workers, their families and broader communities through branches on mine premises, in mining towns and rural areas. Teba Bank is focused on increasing its distribution channels to ensure accessibility for its target communities. Teba Bank is gearing up to expand and grow its business in line with its mandate and is already South Africas 9th biggest registered bank in terms of asset value and is the 8th most recognised banking brand as per the Markinor/Sunday Times Top Brands Survey. Operating in Southern Africa (South Africa and on a limited basis through Teba Ltd agencies in Mozambique, Lesotho and Swaziland) we have a strong presence and customer accessibility, mainly in selected mining and rural communities in South Africa, among others Welkom, Klerksdorp, Rustenburg, Mthatha, Butterworth, Mqanduli and Dutywa. PRODUCTS We offer basic banking products that can be described as follows:
These products and services are available through Teba Bank branches, ATMs and Teba Limited agencies around South Africa. DISTRIBUTION TOUCH POINTS
Over a period of 30 years, the Teba Bank brand has grown and established acceptance, affinity, trust and loyalty with its customers in the mining communities, through focusing on an approach of customer understanding, customer education, commitment, community participation and dedicated relationships. In 2007, the Bank welcomed Mark Williams as CEO, and a new vision, mission, values and strategy was established, which essentially saw Teba Bank preparing itself to become the "Workers Bank of Choice". The new strategy is under implementation with the development of new offerings, distribution and channel network expansion and revitalization of the brand to improve customer experience - some of the initiatives underway being the opening of new branches. We have recently opened "new look" branches in Atok (Limpopo), Westonaria, Welkom and Harties near Stilfontein and will be opening a few more before the end of March 2009 - including a "new look" branch in Butterworth. WORKING WITH THE COMMUNITY One of the pillars driving the Teba Banks business strategy is community development. Teba Bank strives to make meaningful and life-changing contributions towards the wellbeing, uplifting and development of its communities. Education is the key focus in community investment and initiatives. This year, Teba Bank launched the Teba Bank Bursary Programme which is targeted at mineworkers children in need of funds to study at tertiary institutions. The programme is designed to assist recipients in gaining the skills and knowledge they need, providing them with opportunities to apply that knowledge practically, and then seamlessly integrating them into the economically active South African workforce. The bursars are integrated into an extensive monitoring and coaching programme that is managed by the employees of Teba Bank and include vocational work. The Bank is deeply committed to the communities it serves and is active in the community through a robust volunteer programme that allows each staff member time to actively contribute to the community. In the past six months Teba Bank staff members have assisted in the development of rural schools, through upgrading school property, contributing to libraries and ensuring that learners have an environment conducive to learning. Relationship with Labour Unions Our relationship with the SA Labour Unions has grown from strength to strength over the years. That is especially evident in our recent successful interventions with the COSATU May Day celebrations and other activities with NUMSA and the NUM. Highlights
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| • Copyright © 2010 Teba Bank • All rights Reserved • Teba Bank is an authorised financial services provider FSP No.14740 and credit provider NCRCP21 in terms of FAIS and NCA respectively. | ||||||||||||||||||||||||||||