EDITORIAL: Bidvest Bank’s long goodbye
By delaying the exit, it missed opportunities to redeploy resources effectively
Bidvest grabbed the headlines last week after announcing that would end its 26-year presence in banking (https://www.businesslive.co.za/bd/companies/financial-services/2024-07-03-bidvest-to-end-26-year-bank-journey/). Logical as it may sound, the decision by the industrial conglomerate raises an important question: why did it take so long?
Bidvest, a heavyweight in diversified services, should have acted sooner. Its prolonged stay in banking reflects a lack of agility. While other players such as Imperial and Grindrod adjusted sails, Bidvest stuck to the same course. Agility matters; it’s the difference between riding the wave and being swept under. ..
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