The nav»Home feature of the FNB App originates 24% of home loans paid out to customers and accounts for more than R52 billion in payouts since inception. Fintech Innovations Gain PopularityįNB’s suite of fintech innovations is also gaining popularity. FNB Life’s new business annual premium equivalent (APE) increased by 18%, and the business unit has now paid out R644 million in pre-emptive Life claims to customers since launch. FNB’s WIM investment accounts increased by 5% to 629 000 and it has the leading market share of household deposits in South Africa.
Significant Increase in Wealth and InvestmentsĬustomers continue to trust FNB with their investments, as demonstrated by a 12% increase in wealth and investment total assets to R320 billion. Broader Africa also increased advances and deposits by 10% and 18%, respectively. The Broader Africa portfolio continues to demonstrate good growth, with profits increasing by 26% and active customers rising by 7%. The Retail division of FNB, which serves customers through its Personal and Private segments, increased advances by 7%, primarily driven by growth in residential mortgages, and deposits increased by 10%.įocusing on small and medium-sized enterprises (SMEs) and larger businesses, FNB Commercial increased advances by 8% and delivered a robust 14% growth in deposits. Our FNB App is the most popular digital channel for customers, accounting for 1.2 billion of the 1.7 billion total user logins.” Significant Growth in Retail Division We’re also delighted to see more customers endorsing our advice-led approach to providing solutions that are helpful and easily accessible through a safer digital platform. We provided more than R600 million in alternative energy funding for commercial customers in partnership with WesBank and paid-out over R1 billion through the National Treasury-backed Bounce Back Loan scheme. Among the many highlights are our efforts to alleviate the pressure of energy constraints on customers. eBucks travel sales increased by 57% to R934 million.įNB CEO Jacques Celliers says, “We are pleased with our full-year performance, as it demonstrates our ability to continue supporting our individuals, families, and business customers despite economic uncertainty.eBucks awarded increased by 9% to R2.3 billion.Digitally active customers increased by 6% to 6.89 million.Wealth and Investment total assets increased by 12% to R320 billion.Overall transaction volumes increased by 12% to 3.6 billion.Advances increased by 8% to R529.1 billion.Deposits increased by 13% to R853.6 billion.Profit before tax increased by 10% to R31.4 billion.Active customers increased by 5% to 11.49 million.FNB, recently declared South Africa’s Most Valuable Brand, has delivered strong results for the financial year ending 30 June 2023, boosted by sustained growth in customers, deposits, transactional activity, and take-up of its comprehensive product range.Īgainst the backdrop of a tough economic climate that has strained the finances of households and businesses, FNB delivered a solid credit performance and provided increased money management support for customers.
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