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First National Bank South Africa - First National Bank South Africa - History of the First National Bank South Africa

History and Services

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The First National Bank of South Africa is one of, if not the oldest, continuously operating banks in South Africa. It recently expanded its operations into Zambia, and also operates subsidiaries in Swaziland, Mozambique, Botswana and Namibia.

History of the First National Bank South Africa

Although its history can be traced along a long and winding path, the First National Bank South Africa traces its roots to 1838, when the Eastern Province Bank was founded in Grahamstown, SA to assist merchants who were involved in the local wool trade. In the following decades, a recession hit the area, and by 1874, the board of the Eastern Province Bank was forced to sell the company to the Oriental Bank Corporation. In 1879, this company sold its holdings to the newly formed Bank of Africa.

About the same time, as the diamond trade increased, the Dutch colonists in South Africa established De Nationale Bank van den Oranjievrijstaat Beperk, which was later purchased by the National Bank of South Africa Limited. In 1912, the National Bank of South Africa took over the Bank of Africa and was soon established as the leading bank in the nation. However, as the South African economy began to suffer in the 1920s, several banks merged in 1925 to form Barclays Bank. The National Bank was a subsidiary of Barclays for most of the 20th century. In 1986, however, Barclays sold its interest in the bank, and the First National Bank of South Africa was established as an entirely South African company.

In 1998, the bank became a part of FirstRand Limited, which was created when Rand Merchant Bank, which owned a portion of First National Bank South Africa, merged with the Anglo-American company. The First National Bank of South Africa is now wholly owned by FirstRand.

Services and Locations at First National Bank South Africa

The bank offers a full-range of financial services for individuals and businesses. In addition to checking and savings accounts, the bank also offers a range of credit card and spending reward programs for individuals. The bank also provides loans, savings and investment programs, and insurance services. The bank frequently offers reward programs and various discounts on its services.

For visitors to South Africa who need temporary or more permanent banking services, the bank has established the Non-Resident Centre. Through this service, visitors can establish accounts and transfer and exchange money, all with other services.

The bank also offers services for businesses, including business checking accounts, payroll services, and international banking services. The bank also offers investment options for both individuals and businesses, including advice for retirement planning.

First National Bank South Africa is also involved in a number of charity and community initiatives. Through the FirstRand Foundation, 1% of First National Bank’s profits go to help care for at-risk children and provide them with medical care and education opportunities. The bank also is a part of the Zero Tolerance for Crime program, which provides financial incentives for reporting crime. The bank is also involved with the South Africa Good News website, the Homecoming Revolution initiative, and sponsors local volunteer programs.

In addition to its presence in South Africa, First National Bank also operates in Namibia, Botswana, Swaziland, and Zambia. The bank is not known as First National Bank of South Africa in those countries, but rather First National Bank.

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