TEBA Bank has its origins in the mining industry, where it operated for quarter of a century as TEBA Savings Fund (set up by TEBA Limited). TEBA Savings Fund provided a paymaster service to employers, as well as a savings account and credit access facility service to employees on gold and platinum mines. This business continues to operate as TEBA Cash Financial Services (a division of TEBA Bank). There are 491 000 active TCFS accounts.
In 2000, TEBA Savings Fund acquired a banking license, which allowed it to operate as a micro-finance bank. TEBA Bank was established as a development institution to provide affordable and quality financial services to mine workers, their families and communities and, more recently, the "unbanked", especially in rural areas.
TEBA Bank was officially registered in October 2000. Since registration, the bank has introduced a new savings product, "Grow with Us" (currently 116 000 active accounts), and is also providing a provident/pension fund-secured home loan product. The bank is constantly innovating and expanding into new areas of business. This expansion is undertaken with the goal of providing a long-term benefit to the under-banked.
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