The Tribunal has unconditionally approved the large merger whereby TymeBank Holdings Limited (“TymeBank Holdings”) intends to acquire the entire issued share capital in Retail Capital Limited (“Retail Capital”). Post-merger, TymeBank Holdings will have sole control over Retail Capital.
 
TymeBank Holdings offers customers personal and business transactions, savings accounts and value-added services comprising credit card, prepaid and health insurance services as well as funeral cover.
 
The target group is a fin tech company that provides alternative non-traditional funding (unsecured lending) to small and medium enterprises (“SMEs”) as well as asset financing.