Business and Technology

COVID-19 sinks FNB earnings as consumers struggled to repay loans

Financial services group FirstRand which owns FNB, Rand Merchant Bank and WesBank has taken a hefty profit hit as consumers struggled to repay loans.

Headlines earnings were down 38 percent.

FNB Bank

The group noted a sharp increase in the number of customers applying for debt relief as a result of the COVID-19 pandemic.

More than 300,000 individuals applied.

The retail arm FNB took a 31 percent drop in normalised earnings at its retail segment.

No final dividend was declared by the bank.

In other news – Boity Thulo’s fragrance Pink Sapphire pre-orders sold out

After launching her debut fragrance Pink Sapphire this week Boity Thulo took to her social media pages to announce that the pre-orders were all sold out.


Last night she posted an announcement stating: “OMG YOU GUYS DID THAT! WE SOLD OUT OUR FIRST 1,000 BOTTLES PRE-SALES!! Thank you so much for supporting us fam!! Learn more

Source: eNCA

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