Tag: Jacques Celliers
“In recent weeks, the South African Government, business community, philanthropists and society at large have shown remarkable unity in a joint effort to protect our country against the impact of COVID-19,” writes FNB Chief Executive Officer, Jacques Celliers.
Moody’s downgraded South Africa’s sovereign credit rating to junk status on Friday evening and this has left has left government concerned and trembling in its boots to what extent that this might have on the economy. The downgrade coupled with the COVID-19 fears is bringing much stress to the rand as well as the markets. Joining CNBC Africa to unpack it all is Rashaad Tayob, Fund Manager at Abax Investments and Jacques Celliers, CEO of FNB.
FNB's fee and commission income grew 5 per cent, mainly due to increased volumes across its digital and electronic channels, however the rate of growth in volumes is slowing due to customers' constrained disposable incomes, competitive pressures and certain fee concessions. Joining CNBC Africa to break down the numbers is FNB CEO Jacques Celliers.
First National Bank is reporting 11 per cent growth in profits, profits from the Rest of Africa also up by a substantial 31 per cent. Their digital offerings were the highest performers. Platform-based lending activity FNB provided access, their digital eWallet brought in total estimated value of over R25 billion. Joining CNBC Africa for more is Jacques Celliers, CEO of FNB.
SA growth is strong but lots work still to do, here’s why