Lockdown wipes 20% off income of FNB’s customers
02 June 2020 - 20:29
The average income of First National Bank (FNB) customers plummeted by about 20% during the nation’s lockdown as people took pay cuts or had less work.
FirstRand’s retail banking unit also experienced a “major drop-off” in transactional activity and credit-card spending as businesses closed and people stayed at home, FNB’s retail banking head Raj Makanjee said on a call with reporters on Tuesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.