First National Bank 'looks to expand in Angola and beyond'

Dec 15, 2009

South Africa financial institution First National Bank is looking to expand its interests across the continent, it has been revealed.

In comments made to Portuguese news agency Lusa, Sam Moss, the bank's investor relations director, points out that the firm is "actively" investigating opportunities to extend its retail banking operations throughout Africa, with Nigeria and Tanzania among the countries it is looking at entering in the short term.

He adds the bank is currently waiting for final approval from the Angolan authorities to open an office in the country, with Kenya and Ghana also among its long-term targets.

Meanwhile, recent moves by First National Bank have seen it become the first financial services provider in the country to offer its personal loan contracts in all 11 of South Africa's official languages.

Chief executive Henry Walton claimed such a move was a "major milestone" by the firm in making banking more accessible to residents.