NBI COVID-19 Pandemic Response

FNB adopted a different approach to its Covid-19 financial relief for clients compared with the other banks, by offering a three month break on loans, telecommunications and insurance premium agreements the bank had with clients, with emergency relief funding, and so far some R4.2 billion of relief has been made available to clients.

This was according to  FNB Retail chief executive Raj Makanjee, who said in an online event that FNB had paid out relief to more than 132 000 of its clients, and the relief had covered some R37 billion of credit exposure by the bank.

He said the bank was at present also exploring forms or collateralized relief solutions, because the journey to December by the bank’s clients would be different for clients in different industries, “and we know there are a lot of tough times still ahead,” he said.

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