FNB is pumping money into branches – and some are just down the road from where Standard Bank recently closed down
- First National Bank has announced it will be opening seven new branches, months after Standard Bank announced that it will be closing more than 100 of its branches.
- FNB is also revamping 29 branches across the country.
- Three of those revamps are in communities Standard Bank pulled out of – in one case just a stones-throw away from where it closed a branch.
- For more stories go to www.BusinessInsider.co.za.
First National Bank is adding seven new branches to its existing network of 619, it announced this week.
It has also started revamping 29 branches – and three of those are within walking distance of places where Standard Bank closed down branches as part of a big rationalisation, in Bultfontein in the Free State, Grassy Park on the Cape Flats, as well as in Daveyton on Johannesburg's East Rand – where the banks shared space in the same mall.
Nedbank too has been shrinking its physical footprint, in part by closing branches and in part by using less floorspace where it keeps branches.
Earlier this month the labour court stopped a planned mass strike by the banking union Sasbo to protest branch closures and retrenchments in the sector.
First National Bank said it plans to open additional branches in the Eastern Cape, Mpumalanga, Limpopo, Gauteng,and the Western Cape before the end of its financial year.
See also: A 260km trip to the bank: here’s how hard Standard Bank’s branch closures will hit the Northern Cape, Free State, and other provinces
FNB does regular reviews on its infrastructure around the country, Lee-Anne van Zyl, chief executive of FNB points of presence told Business Insider South Africa.
"In our efforts to grow our presence and infrastructure, we are cognisant of the of the prevailing tough economic conditions that various businesses and consumers are faced with," said Van Zyl.
"In an event where some customers still prefer human interaction, our consultants will play an important role in ensuring that the best customer experience is maintained," she says.
The new branches will be opened at Mount Fletcher Shopping Center and Kirkwood in the Eastern Cape. In Gauteng new branches are due at Westgate Mall, the newly built Tembisa Mall in the East Rand, and at the University of South Africa (Unisa). Dwarsloop Mall as well as Tonga Mall, both in Mpumalanga, will also be getting new branches.
A branch in Sandton, Johannesburg, has also been recently opened.
The bank's 29 branches to be revamped are:
- Durban North
- Grassy Park
- Jabulani Mall
- Eldorado Park
- 59 West Street
- Balfour Park
- Lakeside Mall
- Clearwater Mall
- Jorrisen Street
- Shelly Beach
- Carlton Centre
- Jane Furse
- Umgeni Junction
- Aiken Street
- Platinum Park
Also from Business Insider South Africa:
- If you joined a ‘WhatsApp stokvel’ you’ve probably been scammed
- This was the longest Uber trip in South Africa - ever
- Here’s how a Mpumalanga municipality ended up with an electricity pole in the middle of a road
- Discovery Vitality wants you to meditate every day, and sleep more. Here’s what you’ll get in return.
- A new iPhone feature lets you make emojis of yourself for WhatsApp– so we made Cyril Ramaphosa, Tito Mboweni, Patricia de Lille, and Julius Malema
- You can now make a phone call from your smartwatch in SA on both Vodacom and MTN – on one specific watch