FNB Namibia – Windhoek Observer

12 Sep

FirstRand profit hit N$1,7 billion

ObserverObserver MoneyFNB Namibia

CHAMWE KAIRA The FirstRand Namibia group, which includes FNB Namibia recorded a net profit after tax of N$ 1,704 billion million in the financial year ended 30 June 2024, compared to N$ 1, 561 billion million), in the previous period, a 9.1% improvement on the previous year. Financial results showed that the groups return on equity (ROE) also improved to 27.8% (2023: 25.5%). Headline earnings increased by 10.1% to N$ 1, 716 billion. FirstRand said the main drivers of the increase in earnings are largely due to an improved trading environment, increased credit extended and base growth. This coupled with…

23 Jul

The Rise of eCommerce – is Namibia ready?

ObserverUncategorisedeCommerce, FNB Namibia, RMB Namibia

Reginald Obaking and Frans Uusiku eCommerce has become a buzz word as one of the key revelations of the 21st century economic realities. We have all witnessed the advent of the COVID-19 pandemic further reinforcing the importance of being able to buy and sell goods and services or transmitting funds or data over electronic networks. According to the United Nations’ report on eCommerce global view, global eCommerce as a share of global GDP was estimated at 30% in 2020, while its share of global retail sales has increased from 14% in 2019 to 17% in 2020. This highlights the ever-changing…

04 Mar

FNB Klein Windhoek to close, other great opportunities for customers

ObserverUncategorisedFNB Namibia

FNB Namibia has announced it would close the Klein Windhoek branch, effective 13 March 2021. “After examining branch profitability through our strategic planning review, we decided it was prudent to close a number of our branches throughout 2021. This approach is based on branches becoming less profitable, while the offer of additional electronic services has enhanced operating efficiencies. Our customers have adapted to all our electronic options and we are optimistic that we will retain our customer relationships because of these online and mobile banking services,” said Rodney Forbes, FNB Executive Officer: Points of Presence. Forbes added that there was…

19 Feb

Alternative channels: affordable and accessible to all

ObserverUncategorisedFNB Namibia, FNB Points of Presence

Staff Writer “Over the past few years, FNB Namibia has focused on developing a strong financial service offering, with special emphasis on digitisation, says Rodney Forbes, Executive Officer: FNB Points of Presence. “This means that we are constantly finding ways and means to ensure that every customer of ours has access to banking services without a physical branch”. Forbes advised that the digitisation strategy of FNB has been successful thus far and has cemented the outlook of the bank that expanding and increasing its branch and ATM footprint is not part of the bank’s overall digitalisation strategy. “We review our…

16 Oct

FNB, DBN partner on Credit Guarantee Scheme

ObserverUncategorisedDevelopment Bank of Namibia (DBN), FNB Namibia

Staff Writer FNB Namibia has partnered with the Development Bank of Namibia (DBN) on the risk sharing initiative, which was announced by the Minister of Finance, Hon. Iipumbu Shiimi on the 19 August 2020. “Our government and FNB as one of the leading banks in the country, value this sector because of its great potential for the socio-economic development in terms of economic growth, employment creation and poverty alleviation,” Sam Ikela, Segment Head, Small Medium Enterprises at FNB said. “The intention of the guarantee scheme is to alleviate the collateral constraints entrepreneurs are facing and it will cover loans up…

05 Aug

FNB donates Personal Protection Equipment

ObserverObserver MoneyCovid-19, FirstRand HOPE Fund, FNB Namibia, Namibia, Personal Protection Equipment, PPE

Staff Writer FNB Namibia, through its FirstRand HOPE Fund, donated 2500 Personal Protection Equipment (PPE) kits, valued at N$810 000 to the Ministry of Health and Social Services. Erwin Tjipuka, CEO of FNB Namibia during the handover ceremony said that the banking Group was concerned about the increase in the number of COVID-19 cases in Namibia and the negative impact the pandemic has on the Namibian economy and society at large. He expressed the hope that the donation of PPE kits would assist in the further prevention of the spread of Covid-19 while protecting frontline staff, while ultimately contributing towards…

21 Jul

FNB branches revert to rotational operations model

ObserverUncategorisedCovid-19, FNB Namibia

Staff Writer FNB Namibia has announced that their branches will revert to the rotational operations model for the foreseeable future. “This means that every branch will operate on a 50 percent staff capability only, in order to curb branch activities, thereby assisting government in containing the spread of the virus,” said Rodney Forbes, FNB Executive Officer: Points of Presence. “The spread of COVID-19 is still ongoing and even increasing in some parts of the country. As a responsible corporate citizen, we wish to play our part in limiting the exposure of both our clients and staff to the possibility of…

03 Jul

Savvy Banking Saves FNB Customers Money

ObserverUncategorisedFNB Namibia

Staff writer FNB Namibia has announced that it will cut prices across a number of its banking services and fees from 1 July 2020. The bank said with the updated pricing structure, it aims to offer more value and simplicity to customers when it comes to its banking fees, and thus has changed its pricing to reflect this. “FNB also altered its fee structures to facilitate the shift from cash transactions to electronic transfers and cashless payments.We are cognisant that customers are facing financial pressure, therefore several free transactions will provide relief to many. The financial impact of COVID-19 has…

24 Apr

FNB Namibia cuts interest rates

ObserverUncategorisedFNB Namibia

Staff Writer FNB Namibia has announced an interest rate reduction, following the Bank of Namibia’s repo rate cut last week of another 100 basis points. “The prime lending rate has been reduced to 8 percent, while the home loan rate will decrease from 10 percent to 9 percent, effective from 25 April 2020,” said Elzita Beukes, FNB Communications Manager. She said further changes have been made to the credit card rates which have been reduced to 12,80 percent for all the various credit card categories. Beukes added that the bank decided to meet those customers dependent on interest income by…

24 Mar

Top 5 tips to achieve financial independence

ObserverUncategorisedElzita Beukes, Financial, FNB, FNB Namibia, independence

There are no short cuts to attaining financial freedom; it requires discipline and proper financial planning. Elzita Beukes, FNB Communication Manager, said: “Financial independence is the ability to live a financially independent life that neither relies solely on debt as a form of survival or living expenses. The main reason most people grapple with the concept of financial independence is because of a lack of discipline. “There’s no truth in the belief that you can only achieve financial independence when you are wealthy, it all depends on developing good money management skills.” In order to see the full worth of…