Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

South Africa’s FNB Shuns Taj Mahal Branches to Beat Slow Growth

First National Bank, the consumer unit of South Africa’s FirstRand Ltd., is rolling out more automated teller machines and encouraging customers to use electronic banking products to counter an economic slowdown.

FNB, the first South African lender to create a banking application for smartphones, last year introduced ATMs able to take deposits and reflect the cash in a client’s account immediately. It wants to improve customer access through its digital banking strategy, Jacques Celliers, chief executive officer of FNB, said in a March 20 interview in Johannesburg.

We “have come to rely much less on the old format of large Taj-Mahal-type branches,” said Celliers, who became CEO two months ago. “There are tough times ahead from both a macro perspective as well a regulatory perspective.”

FirstRand said earlier this month that its home market has entered an interest-rate tightening cycle, putting pressure on consumers. The rate-setting committee of South Africa’s central bank, which raised its benchmark interest rate for the first time in five years in January, will announce the result of its latest policy meeting on March 27.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.