FIRST NATIONAL BANK (FNB) TO ENTER GHANA & NIGERIA’S RETAIL BANKING SECTOR

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First National Bank (FNB) has revealed plans to enter the retail banking sector in Nigeria and Ghana by the end of 2014 as a measure to boost its growth outside South Africa. The bank’s CEO, Jacques Celliers says the bid to spread FNB’s tentacles outside its home market comes against the backdrop of rising competition from other banks, which are upping their game in South Africa’s retail banking industry.

As part of it entry strategy into Ghana, the bank plans mid-sized acquisition after bidding for a banking license, before proceeding to aggressively build its brand through organic growth measures.

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