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A third major South African bank has announced the first new branches part of an expanded digital partnership model with Home Affairs.
Only one bank is expanding its ATM network in South Africa, and only two are growing their branch footprints.
All of South Africa’s traditional banks have decreased their ATM footprint over the past five years — with one exception.
FNB has been experiencing problems for over five hours on Black Friday, with customers unable to log into their online banking or make payments.
Only one major traditional bank in South Africa is still expanding its ATM footprint, while the rest have closed thousands of cash machines nationwide.
FirstRand has announced that it has agreed to acquire 20.1% of Optasia, a global financial technology company that is busy listing on the JSE.
FNB’s online stockbroking and portfolio management website experienced an extended outage this week, with customers unable to view their accounts or trade.
FNB’s unexpected November eBucks levelling criteria changes have upset many customers, some of whom accuse the bank of a “bait and switch” when it comes to earnings on device contracts.
South African banks are reportedly set to battle each other for a slice of the state-owned Postbank’s R3-billion share of the social grants market, which will become available at the end of September 2025.