FNB estimates 2-million did not get paid in April
Bank analyses billions of transactions on its platform from February to September
25 October 2020 - 18:38
Data analysis by FNB of billions of transactions running through its accounts over the lockdown indicates that 2-million people did not receive salaries in April, underscoring the huge significance of government interventions.
Spending on FNB cards plunged 60% in April after the implementation of the level 5 lockdown at the end of March. Income fell less severely, 26%, while the number of people receiving a salary or wage during that month fell 13%...
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