Type Private Headquarters Windhoek Founded 1889 | Area served Worldwide Founder FirstRand Number of employees 1,800 | |
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Traded as on Namibian Stock Exchange Industry Banking, Financial services Predecessor Merger of First National Bank Limited and Swabou Key people Claus Hinrichsen
(Chairman)
Ian Leyenaar
(CEO) Parent organizations FNB Namibia Holdings Limited Subsidiaries Swabou Investments (pty) Ltd | ||
First National Bank (Namibia) (abbreviated as FNB Namibia) is Namibia largest commercial bank and according to The Banker Magazine of London is Namibia's best bank for the fifth consecutive year.
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The financial institution has its headquarters located in Windhoek Independence Avenue, in Khomas Region. It is one of the five commercial banks licensed to operate in the country by the Bank of Namibia (the national banking regulator) and the first commercial bank created in the country before independence. and follows international standard in Banking and Finance.
History
FNB Namibia was founded as Deutsche Afrika Bank (DAB) in 1907 and in, 1915 National Bank of South Africa took over the assets of DAB which was in 1926 integrated with Barclays Bank. Barclays Bank changed name of the South African operation to Barclays National Bank Limited in 1971 and later changed to First National Bank of Southern Africa after the shareholding changed in December 1987, First National Bank of SWA/Namibia Limited was incorporated in February,1988 . FNB Namibia listed on the Namibia Stock Exchange in 1997 and is currently largest locally listed company with market capitalisation of N$1,9 billion or 39% of the NSX total market cap. The merger between FNB Namibia and Swabou happened in 2003.
First Rand Group
The First Rand Group was established in 1998, by the merger of First National Bank of South Africa, Rand Merchant Bank and Momentum Insurance & Asset Management. First Rand is listed as a "locally controlled bank" by the South African Reserve Bank, the national banking regulator. As of May 2012, the group had total assets valued at US$90.3+ billion (ZAR:698 billion) (2011) with subsidiaries in seven sub-Saharan countries and in Australia and India. Expansion plans in another six African countries are underway.