Caption: (From left to right) Walter Don, CEO: Nam-mic Financial Solution Holdings and Prof: Tjama Tjivikua, Rector of Polytechnic of Namibia at the launch of the new student card with a functionality of a low-cost transactional account
. (Photograph by Lorato Khobetsi)
The increase of N$4 000 to N$ 5 000 in life cover benefit is applicable to the EasySave-, Vibe-and Transactional accounts
, for individuals.
Standard Chartered is the sole mandated lead arranger for bridge as well as long term debt facilities and sole transactional account
bank in Dubai.
Every FNB customer qualifies for this service as long as the client has an FNB transactional account
, is registered for FNB cellphone banking and has an electricity meter number for a specific household.
A first in South Africa, Cash Withdrawal will allow FNB Cellphone Banking customers to withdraw cash directly from their FNB transactional account
at an FNB ATM without the use of any bank cards.
"Up to now it was only the EasySave Transactional Account
holders who qualified for a free death benefit of N$3 000.
The bank said that the account is a new transactional account
suited for the needs of students in tertiary institutions in Zambia.
Also under discussion were proposals to give every EU citizen a right to a basic transactional account
which will require each Member State to ensure that there is at least one provider that will provide such accounts to any customer and emerging interpretations of Basel III liquidity rules which seem to have had the unintended effect of reducing the interest rates some banks will pay on credit union deposits.
On the liabilities side, a focus on transactional accounts
and current and savings accounts (CASA) balances helped it to improve margins.
However, he said the growth was contributed by the bank's retail advances of transactional accounts
, personal loans and debit/credit cards as well as the banks caution on lending and focusing on recoveries and operational efficiencies such as technology adoption/digital migration.