First National Bank (Namibia)

First National Bank (Namibia)

Type	Private
Traded as	on Namibian Stock Exchange[1]
Industry	Banking, Financial services
Predecessor	Merger of First National Bank Limited and Swabou
Founder	First Rand
Headquarters	128 Independence Avenue, Windhoek, Namibia
Area served	Worldwide
Key people	Claus Hinrichsen (Chairman) Ian Leyenaar (CEO)
Products	Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management, credit cards,
Number of employees	1800+ (2013)
Divisions	Wesbank, RMB Namibia, Outsurance Namibia
Website	FNB Namibia.com[2]
Footnotes / references [3]

Overview

First National Bank (Namibia) (abbreviated as FNB Namibia) is Namibia largest commercial bank and according to The Banker Magazine of London is Namibia's best bank for the fifth consecutive year.^[4]

The financial institution has its headquarters located in Windhoek Independence Avenue, in Khomas Region. It is one of the five commercial banks licensed to operate in the country^[5] by the Bank of Namibia (the national banking regulator)^[6][7] and the first commercial bank created in the country before independence.^[8] and follows international standard in Banking and Finance.

History

FNB Namibia was founded as Deutsche Afrika Bank (DAB) in 1907 and in, 1915 National Bank of South Africa took over the assets of DAB which was in 1926 integrated with Barclays Bank. Barclays Bank changed name of the South African operation to Barclays National Bank Limited in 1971 and later changed to First National Bank of Southern Africa after the shareholding changed in December 1987, First National Bank of SWA/Namibia Limited was incorporated in February,1988 . FNB Namibia listed on the Namibia Stock Exchange in 1997 and is currently largest locally listed company with market capitalisation of N$1,9 billion or 39% of the NSX total market cap. The merger between FNB Namibia and Swabou happened in 2003.^[9]

First Rand Group

The First Rand Group was established in 1998, by the merger of First National Bank of South Africa, Rand Merchant Bank and Momentum Insurance & Asset Management. First Rand is listed as a "locally controlled bank" by the South African Reserve Bank, the national banking regulator.^[10] As of May 2012, the group had total assets valued at US$90.3+ billion (ZAR:698 billion) (2011)^[11] with subsidiaries in seven sub-Saharan countries and in Australia and India. Expansion plans in another six African countries are underway.

See also

• Bank of Namibia
• Economy of Namibia
• List of banks in Namibia

References

1. http://nsx.com.na/?page_id=413
2. https://www.fnbnamibia.com.na
3. Key people: Son, Hugh (August 20, 2011). "BofA expects 3,500 job cuts". The News Journal (New Castle, DE: Gannett). Retrieved August 20, 2011.
4. https://www.fnbnamibia.com.na/news/archive/2013/20131212best-bank-in-namibia.html
5. Heita, Desie (1 September 2009). "Big four banks not scared of competition". New Era.
6. Heita, Desie (4 August 2009). "Micro Finance Banking Sparks Need for Regulation". New Era.
7. Alkatib, Sukaynah (September 2009). "Lifeline for the". Insight Namibia.
8. Mach, Marco (5 August 2009). "Mikrofinanzbank erhält Lizenz". Allgemeine Zeitung (in German).
9. https://www.fnbnamibia.com.na/about-fnb/fnb-namibia-history.html
10. List of Locally Controlled Banks In South Africa
11. 30 June 2011 Group Financial Statement

External links

• First National Namibia Limited official site