FNB’s big push into entry banking appears to be a strategy to slow Capitec’s relentless growth
FNB, the retail banking unit of FirstRand, is planning to make a big push into entry banking and middle market financial services in what appears to be a clear strategy to stave off relentless growth by Capitec.
Raj Makanjee, CEO of retail and private banking at FNB and RMB Private Bank, said the lender is targeting customers who earn between R36,000 and R450,000 a year, a broad segment regarded as the sweet spot of SA’s retail banking market...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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