FNB NAMIBIA

Since the inception of the group in 1907, we have been a part of a success story which continues to evolve. Every day brings new challenges and new ideas that lead to more success stories for the group.

As we continue to operate in this challenging economic environment we need to differentiate our business from those of our competitors and also ensure that our stakeholders understand what we stand for as a business, namely to optimise capital to ensure a sustainable business. While the main reason for our existence is to meet the shareholder value proposition of generating good returns, we should be mindful that this is not the only reason. We are also committed to a social-value proposition, which includes four elements: inclusive growth that brings all Namibians into the financial arena responsibly; a sense of belonging for all of our people in each of our brands in the group; a commitment to ethically do the right thing only; and fair treatment of our customers – all the while ensuring meaningful corporate social investment through the FNB Namibia Holdings Foundation Trust.

At FNB, “How can we help you?” is not just a slogan: it is who we are and how we work. When the public and our 52 000 social media followers see our brand they should understand that our contribution is far more than being an innovative financial partner – it is part of who we are.

Providing accessible and affordable transactional banking and lending as well as expert support regarding investment and insurance, and taking time to understand what customers wants and needs, are core to FNB’s customer-centric approach. E-solutions, process solutions and mobile solutions do not only drive internal efficiencies but, more importantly, also enable FNB to grow our clients’ wealth by assisting them to in turn support t heir own clients and improve their own lives.

We have noted that our customers are embracing the move from branch to digital transactions and therefore more affordable channels, leading to exceptionally strong transactional growth in all self-service channels. We are proud to have launched Automatic Deposit taking terminals to the market. We are also very pleased with the take-up by our depositing customers, who are now able to make real-time cash deposits 24 hours a day, 7 days a week.

A culture of excellence in service delivery remains core to our strategy. During the year we introduced a new customer-complaints management system which will help us to improve the tracking and addressing of service failures.

On the back of the successful acquisition of Pointbreak, we believe the launch of Ashburton Investments in Namibia will significantly benefit Namibian investors and the Namibian economy at large, as more investors will now receive access to the wider range of investment products and financial services offered by our group both in Namibia, South Africa and off-shore. We are confident that this exciting development will deliver the scale, breadth and capabilities for us and our clients to compete more effectively and profitably in the global marketplace and provide highly competitive and sustainable returns to our clients.

The vehicle finance market has seen some of the biggest challenges in the recent past with new vehicle sales down by 24% year on year. Competitive interest rates and increased costs of funding have had a further negative impact on the business. Despite these challenges WesBank remains the market leader embodied by superior customer service.

The FNB Happiness Store is the first online e-commerce store where one can buy Happiness for fellow Namibians. Anyone can purchase Happiness in the form of a gift via www.fnbhappinessstore.com.na for fellow Namibians that have been identified. This corporate social responsibility (CSR) project continues to spread the helpful message across the country with donations valued at almost N$40 000 made to individuals and charities.

We recently launched FNB Rewards which enables customers to earn cash back for doing everyday things like spending with their debit or credit card or using the FNB Namibia App. Rewards is just another way for us to recognise our customers in an innovative, meaningful and convenient way.