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FNB plans to open 50 new community branches nationwide

While most of its JSE-listed peers are closing branches, with greater focus on online banking.
Image: Moneyweb

Banking giant FNB is set to add 50 more community branches to its network nationwide by 2023, as part of its efforts to reach more retail and commercial customers.

The bank, which is part of JSE-listed FirstRand group, said on Thursday that the new branches are set to be between 70m² and 90m² in size and will be integrated with new technologies to enhance customer experience by blending both self-service and face-to-face interactions.

“We have maintained consistent investment in our vast network spanning nearly 600 branches and approximately 5 000 ATMs in local markets across South Africa,” said FNB chief executive, Jacques Celliers.

“In our points of presence, our aim is to ensure that the right services are available within proximity to our customers,” he added.

Celliers said that in the last three years, the bank opened 14 new branches and renovated over 130 to cater to customer needs via its assisted and unassisted channels.

While FNB is expanding its branch network, most of its JSE-listed peers are closing branches with a greater focus on online banking and e-commerce.

Read: Standard Bank shuts even more branches than planned

Watch: FNB’s R100m Joburg CBD head office revamp

“Our branches and ATMs serve a meaningful purpose to our customers, communities, and brand. We strive to provide reliable, accessible, and contextual services to help our customers manage their money,” Lee-Anne van Zyl, CEO of FNB Points of Presence said.

She noted that the launching of new branches will be supported by ongoing refurbishments, with an addition of 53 branches being scheduled for upgrades in the short to medium term.

FNB did not reveal how much it is investing in the expansion and upgrades of its branch network countrywide.

Meanwhile, the bank pointed out that it also offers essential services beyond banking such as assisting the Department of Home Affairs with the distribution of smart IDs and passports at the following selected branches: Portside (Cape Town), Centurion Lifestyle (Pretoria), Merchant Place (Sandton), Lynnwood (Pretoria), Burgersfort (Limpopo), The Glen (Johannesburg) and Cornubia (KwaZulu-Natal).

It said that around 267 800 smart ID cards and passports have been issued to customers so far.

* Palesa Mofokeng is a Moneyweb intern.

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