Tag ArchivesFNB


FNB sets its sights on growing female entrepreneurs in South Africa

FNB has set its sights on growing women owned and led businesses in South Africa, a commitment that has seen the bank enter into partnerships to facilitate mentorship for some of the most promising enterprises. (more…)

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Pre-VAT increase buying dents retail sales

By Jason Muscat, FNB Senior Economic Analyst. April retail sales disappointed, expanding just 0.5% y/y and contracting -1.2% m/m. Of particular concern, the three month % change has now contracted for the third consecutive month. The sharp deceleration suggests that consumers may well have front-loaded purchases ahead of the April implementation of the VAT hike. […]

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Help at financial recession

1Q18 GDP disappoints even the bears

By Jason Muscat, FNB Senior Economic Analyst. 1Q18 GDP growth disappointed sharply, even against our bearish forecast of -1% q/q. Growth contracted -2.2% q/q and expanded just 0.8% y/y. As expected, the headline number was dragged lower by the mining and manufacturing sectors, which contracted by -9.9% q/q and -6.4% respectively, each shaving 0.8 percentage […]

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Lee Bromfield

FNB Life identifies over R160m in unclaimed policies

In a bid to tackle the ongoing issue concerning unclaimed insurance benefits, FNB Life has embarked on an initiative to proactively identify customers who have not submitted claims in the past. FNB Life has identified over R160 million worth of unclaimed policies in its books and has made a commitment to track down nominated beneficiaries, […]

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SA companies need to up the pace on data analytics

Analysing data and providing actionable insights from it has become a common phenomenon. Data and analytics, once buzzwords, are now part of mainstream business jargon. The new conundrum with data is knowing what questions to ask to drive business. Without this, analysing data becomes a near impossible exercise. Dr Yudhvir Seetharam, Head of Analytics at […]

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What do rates being on hold mean for your investments?

By Chantal Marx: FNB Wealth and Investments, Head of Research.  The SARB MPC has decided to keep rates on hold for now, in-line with our expectations. The Governor did take on a more hawkish tone, as expected, but it was far less hawkish than we anticipated. While he conceded that the balance of risks to […]

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Reserve Bank keeps repo rate unchanged

Following the South African Reserve Bank (SARB)’s decision earlier today to keep interest rates unchanged, FNB confirms that it will maintain its prime lending rate at 10% and will review its position following the next SARB MPC meeting in July. Says FNB CEO Jacques Celliers: “Faced with the possibility of sharp increases in fuel prices […]

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April inflation surprises on the low side

By Jason Muscat, FNB Senior Economic Analyst. April headline inflation surprised on the low side, printing at 4.5% y/y, below our expectations of 4.8%. Core inflation, which strips out food and non-alcoholic beverages, fuel and energy accelerated to 4.5% y/y from 4.1% the previous month. While the impact of the hikes in the April fuel […]

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