FirstRand Limited is one of the largest financial institutions in South Africa, which also has a global footprint.
Image: company website
It provides services ranging from banking, insurance and investment to retail, commercial, corporate and public sector customers. The group includes FNB, FNB Africa, RMB, WesBank, and FCC segments which provide retail, commercial, corporate, investment banking services and installment finance services both in South Africa and internationally.
Its offerings include current and savings accounts call deposits, fixed and notice deposits, negotiable certificates of deposit, and other deposits. The company also provides mortgage loans, personal loans, and credit and debit cards, investment products, transactional and deposit taking, card acquiring services as well as credit facilities. In addition, it offers other financial services comprising transactional, lending, and investment products; advisory, financing, trading, corporate banking, principal investing solutions and vehicle and asset finance. Further, the company operates as strategic enabler, facilitator, and coordinator as it serves consumers in agricultural sector, small businesses, medium corporates, and government entities
The Group has undertaken a strategic initiative to build a presence outside of South Africa by investing in Greenfields operations or smaller acquisitions as these can bring additional scale more rapidly. The Group has established platforms in certain key financial centers that can act as centers of opportunities for investment flows between Europe, Africa, Asia and Africa. Its investment in China is strategically important to the African continent’s growth story as it facilitates trade flows between China and the African continent. It acts as a key support to the ongoing investment and infrastructural development of Africa. The group provides financial services in almost every arena across Africa, United Kingdom, Dubai, Australia, China, and India through FNB, RMB, Momentum and Wesbank. It is also lauded as one of the very first foreign banks to be granted license to operate in India.