FNB Business says it aims to increase and diversify its existing levels of support for SMEs in line with the objectives of the National Development Plan.
The bank is implementing strategy that supports government’s national imperatives to accelerate transformation and inclusive economic growth.
The bank said it will continue to focus on understanding the needs of entrepreneurs – something it calls “businessism”.
FNB’s strategy encompasses four primary objectives:
1. Providing innovative and market leading solutions across all business segments with a strong focus on fast growing niche areas such as Agriculture, Franchising, Medical Businesses and Education
2. Providing real value to customers through the provision of non-traditional banking solutions like Instant Accounting, Payroll and BEE accreditation; cloud based document management solutions; CIPC registrations and maintenance, to mention a few
3. Enabling, growing and supporting financial inclusion and access to market for SMEs through Structured Lending, Enterprise Development, Supplier Development and Preferential Procurement initiatives
4. Development of value propositions for underserved markets yielding economic and social impact
The bank said it will continue to seek partnerships to access alternate funding sources, risk sharing relationships and business development support platforms.