FNB sees growth

FNB Namibia has become the first bank operating in Namibia to pass the N$10 billion mark in total assets.

This was revealed in the FNB Namibia Holdings interim financial results – for the six months ending December 31 – last week, which also showed that attributable earnings increased by 21 per cent to N$136,1 million from N$112,6 million recorded over the same period in 2005. Earnings per share went up 21 per cent to 51,5 cents (2005: 42,6 cents), while return on average shareholders’ equity also went up by 21 per cent.The bank has the highest market capitalisation of nearly N$2 billion on the Namibian Stock Exchange, resulting in a total dividend of 114 cents per share being declared, which includes an ordinary dividend of 24 cents per share, and a special dividend of N$250 million.Deposits made with the bank increased by 23 per cent, on the back of FirstSave – a newly introduced savings product for the consumer market, while Swabou Life and Insurance’s earnings shot up 87 per cent to N$28,9 million.FNB currently offers banking services across the country through a network of 46 branches and agencies.Earnings per share went up 21 per cent to 51,5 cents (2005: 42,6 cents), while return on average shareholders’ equity also went up by 21 per cent.The bank has the highest market capitalisation of nearly N$2 billion on the Namibian Stock Exchange, resulting in a total dividend of 114 cents per share being declared, which includes an ordinary dividend of 24 cents per share, and a special dividend of N$250 million.Deposits made with the bank increased by 23 per cent, on the back of FirstSave – a newly introduced savings product for the consumer market, while Swabou Life and Insurance’s earnings shot up 87 per cent to N$28,9 million.FNB currently offers banking services across the country through a network of 46 branches and agencies.