First National Bank (FNB) is one of South Africa’s ‘BIG FOUR’ banks. It is the oldest bank in the country. The company traces its origins back to the Eastern triocrees Province Bank, which was formed in Grahamstown in 1838.
When looking at FNB’s history, two things in particular stand out:
- The first is a story of survival – different circumstances in South Africa have posed many great challenges, all of which FNB has successfully met.
- The second is a story of people, FNB’s history has always been firmly influenced by the needs of the people they serve.
Today the bank provides personal, commercial and corporate banking services to customers in South Africa.
How Nedbank Became One of South Africa’s Largest Banks
Who Owns FNB??
FNB is a wholly owned subsidiary of FirstRand, a financial conglomerate which trades on the Johannesburg Securities Exchange under the symbol: FSR.
The FirstRand Group engages in the provision of banking, insurance, and investment products and services to retail, commercial, corporate, and public sector customers through its subsidiaries.
FirstRand was first established in 1998 after the merger of First National Bank, Rand Merchant Bank and Momentum Insurance & Asset Management.
The Success of Power Fashion: The Retail Chain Started By The Otto Family
FirstRand is listed as a “locally controlled bank” by the South African Reserve Bank, the national banking regulator. As of November 2022, the group had total assets valued at $124.8 billion with multiple subsidiaries in different countries around the world.
Get South Africa’s latest entrepreneurial or business success stories delivered right to your inbox — Sign up to Entrepreneur Hub SA’s newsletter today ⬇️⬇️⬇️
eBook: 50 South African Entrepreneurs Reveal HOW THEY MADE IT
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