EBank to continue as before
FNB Namibia Holdings recently acquired private equity firm Pointbreak. As a result, it now holds shares in Namibia Media Holdings, Cymot and Plastic Packaging, to mention but a few.
FNB Namibia Holdings recently strengthened its offerings to the banking public with the acquisition of branchless commercial bank EBank.
FNB Namibia spokesperson Elzita Beukes says it will be business as usual at the branchless bank.
“For now you can expect that EBank will continue to service its customers exactly as before. As the range of EBank products grows or improves, adding more benefits and features, any new details will be shared first with customers then with the public,” she says.
“EBank's purpose aligns strongly with FNB's inclusive banking drive and FNB's digital strategy. EBank will continue as a separate channel within the bank, similar to our innovative and first-to-market EWallet channel, and all EBank customers can count on the same great service and support they have always received.”
FNB did not respond to a question on the appointment of a new chief executive officer following the exit of former Bank of Namibia assistant governor Michael Mukete. Since Mukete, EBank has been without a CEO.
FNB Namibia recently raised funding of more than N$1 billion. Commenting on the development without offering much detail, Beukes said it was standard practice for commercial banks to raise funding on the capital markets.
“Banks routinely raise funding internally and externally; essentially to increase their ability to meet rising customer needs and also to fund their own growth plans,” she said.
It is widely anticipated that FNB's acquisition of Pointbreak will open the door for Ashburton Asset Management, one of the FirstRand Group's subsidiaries.
“FNB Namibia Holdings is buying Pointbreak's local expertise, and launching Ashburton Investments to enlarge the capability of the Pointbreak team. We will soon be sharing more details of the project with the media and we will be sure to keep you in the loop,” said Beukes.
FNB Namibia had been courting Pointbreak since October 2016, but the acquisition was only recently approved by the South African Reserve Bank, the Bank of Namibia and Competition Commission of Namibia.
FNB had said the acquisition of Pointbreak would enhance the investment know-how and local wealth management capability of FNB, while Pointbreak's longstanding client-focused approach aligns well to FNB's vision of playing a leading role in the premium banking space in Namibia.
OGONE TLHAGE
FNB Namibia spokesperson Elzita Beukes says it will be business as usual at the branchless bank.
“For now you can expect that EBank will continue to service its customers exactly as before. As the range of EBank products grows or improves, adding more benefits and features, any new details will be shared first with customers then with the public,” she says.
“EBank's purpose aligns strongly with FNB's inclusive banking drive and FNB's digital strategy. EBank will continue as a separate channel within the bank, similar to our innovative and first-to-market EWallet channel, and all EBank customers can count on the same great service and support they have always received.”
FNB did not respond to a question on the appointment of a new chief executive officer following the exit of former Bank of Namibia assistant governor Michael Mukete. Since Mukete, EBank has been without a CEO.
FNB Namibia recently raised funding of more than N$1 billion. Commenting on the development without offering much detail, Beukes said it was standard practice for commercial banks to raise funding on the capital markets.
“Banks routinely raise funding internally and externally; essentially to increase their ability to meet rising customer needs and also to fund their own growth plans,” she said.
It is widely anticipated that FNB's acquisition of Pointbreak will open the door for Ashburton Asset Management, one of the FirstRand Group's subsidiaries.
“FNB Namibia Holdings is buying Pointbreak's local expertise, and launching Ashburton Investments to enlarge the capability of the Pointbreak team. We will soon be sharing more details of the project with the media and we will be sure to keep you in the loop,” said Beukes.
FNB Namibia had been courting Pointbreak since October 2016, but the acquisition was only recently approved by the South African Reserve Bank, the Bank of Namibia and Competition Commission of Namibia.
FNB had said the acquisition of Pointbreak would enhance the investment know-how and local wealth management capability of FNB, while Pointbreak's longstanding client-focused approach aligns well to FNB's vision of playing a leading role in the premium banking space in Namibia.
OGONE TLHAGE
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