First National Bank Zambia Celebrates 13 Years of Operating In Zambia

LUSAKA, Zambia – 1 April 2022 – First National Bank (FNB) Zambia today marks 13 years of operating in the country. Over the 13 years of its operations in Zambia, the Bank has continued to grow, building on its vision to create a better world and the ethos of offering real help in the communities it operates in.

FNB Zambia, a wholly-owned subsidiary of First Rand Group South Africa started operating in Zambia on 1st  April 2009. The FirstRand Group is listed on the Johannesburg Stock Exchange and has presence in eight African countries outside South Africa – Botswana, Namibia, Mozambique, Ghana, Nigeria, Lesotho, Eswatini and Zambia. These – offer full banking services through FNB and Rand Merchant Bank (RMB) brands.

FNB Zambia Chief Executive Officer, Bydon Longwe said “As we celebrate our 13th anniversary of operating in Zambia on 1 April 2022, it is gratifying that we continue to receive support from our valuable customers and stakeholders as well as our employees who remain our biggest asset. We have entered our teenage years of offering banking services and are proud of the achievements made thus far. We are excited about the future and the positive contribution we will continue to make to the Zambian economy.

In celebrating 13 years of operating in Zambia, the Bank highlights 13 major accomplishments that span the many segments that FNB Zambia serves:

1. Agriculture & Commercial – Since inception, the Bank has provided support to the Commercial Property sector as well as in Agriculture, with combined current balances of over ZMW1.6 billion.

2. Merchant Services – FNB Zambia has over 3,500 point-of-sale devices holding over 40% of the market in Zambia with the best approval rating in the country. An average of 6.5 million transactions per year are processed on these devices.

3. Corporate and Investment Banking – FNB Zambia card solutions are currently used by more than 75% of the country’s petroleum service stations. The Bank was the first Commercial Bank to introduce merchant solutions for forecourts allowing card payments at service stations.

4. Small and Medium Enterprises (SMEs) – FNB Zambia supports and banks 13,000 SME customers. The Bank understands that SMEs remain a critical component of our economic growth.

5. CashPlus – We have continued to provide customer convenience and addressed financial inclusion through our agency banking model, CashPlus. The Bank currently has over 1 500 CashPlus agents with over 273,000 monthly transactions.

6. Presence – The Bank has a wide footprint of Advanced Deposit Terminals (ADTs)/ATMs and branch network. FNB Zambia provides enhanced convenience and customer experience with over 144 ADTs/ATMs and 23 FNB Branches across the country.

7. CashBack – FNB Zambia was the first bank to introduce cash back, a monthly reward, to all our customers who make payments with their cards or through the FNB App. As at December 2021, more than ZMW 65 million in CashBack has been paid out to customers.

8. eWallet  – Revolutionizing convenience, the Bank introduced the first-ever bank wallet which has since processed over 27.7 million transactions to date with transaction value exceeding ZMW 23 billion.

9. FNB App – the award-winning FNB Banking App offers convenience to transact on the go. Over 74,000 customers have downloaded the App.

10. Real Help – As the Bank of The Changeables, FNB Zambia has committed to continue adapting with its evolving customers’ and communities’ needs so that the Bank can positively support the communities it operates in. The Bank made key contributions in the fight against COVID-19 at a time when the country and communities were critically impacted by the pandemic and have over the years been resolute to provide real help whilst creating a better world under its key CSR pillar, personal financial literacy, education, community health and development sports.

11. Plant A Tree initiative – FNB Zambia embarked on a Plant A Tree initiative aligned to complementing efforts to positively impact the environment in building climate resilience and adaptation. With an investment of over ZMW400, 000, the Bank and staff planted around 1,000 trees in all areas where the Bank has presence, symbolizing a long-term commitment to operating in the country.

12. Staff – FNB Zambia currently has over 650 employees consisting of mostly youth, who remain the Bank’s greatest asset and key to delivering its ambitious growth project. 56% of staff members are women.

13. Brand positioning – The Bank has grown over the last 13 years from a start-up to one of the main brands in Zambia whilst delivering financial returns to its stakeholders.

“FNB Zambia’s financial performance has also continued to improve. The Bank also performed exceptionally well compared to its peers in the market ranking 4th on Profit After Tax for the year ended 31st December). I am excited about the future of the brand in Zambia as we continue to evolve with our customers’ needs,” Mr Longwe added.

FNB Zambia has won numerous accolades including Most Admired Financial Services Brand 2021 by Finance Derivative Magazine, Most Innovative Commercial Bank in Zambia 2021 by Global Business Outlook, and Best Banking App of the Year 2021 by Zambia Ecommerce Awards, among others. The Bank is well-capitalized with linkages across key markets in Africa as well as the United Kingdom.

With over 650 expert employees equipped to offer financial advice for diverse customers from individuals to SMEs as well as large international corporates, the Bank continues to make inroads in working with Global Development Organisations that are increasing their presence on the continent and in the country. FNB Zambia remains committed to operating in Zambia.

-ENDS-

For more information and/or interviews, contact:

Brand & Communications Manager

FNB Zambia

Mobile: +260 972 455 622

Email:   Karen.Adams@fnbzambia.co.zm

About FNB Zambia:

First National Bank (FNB) Zambia Ltd is a wholly-owned subsidiary of First Rand Group South Africa and started operating in Zambia on 1st April 2009. The FirstRand Group has a presence in eight African countries outside South Africa, offering full banking services through FNB and Rand Merchant Bank (RMB). FNB Zambia Limited is authorized and regulated by the Central Bank of Zambia and is an active member of the Bankers Association of Zambia. The team services retail customers, local and multinational corporate clients and offers a comprehensive suite of Corporate and Investment Banking products and services. The bank has a network of 23 branches, approximately 160 ATMs, over 3,000 Point of Sale devices, and over 1500 Cashplus agencies.

 

For more information, visit www.fnbzambia.co.zm