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FNBB provides relief to customers and SMEs impacted by Covid-19

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Gaborone, 08 April 2020 – Since the beginning of the COVID-19 outbreak, First National Bank Botswana (FNBB), has been closely monitoring developments, with view of provisionally restructuring its operations and solutions to meet the changing demands and minimise the impact of the pandemic.

FNBB commends the Government of Botswana on its decision to invoke extreme social distancing (lockdown) for a minimum of 28 days. We believe the decision is a major step in the right direction towards containing the spread on the COVID-19, and drastically minimising its impact on our society and economy.

We would like to assure our customers that in addition to putting in place the necessary precautionary measures to ensure the health and safety of our customers, staff and vendors during this time, we continue to reinforce our capacity to provide uninterrupted essential banking services which allow customers to do their everyday banking through our innovative digital channels and branches.

We also believe that our responsibility is to help support our Retail (individual) and Commercial customers whose finances have been impacted during this challenging period. We are therefore pleased to announce the following relief measures:

Cashflow Relief
Our Cashflow relief intervention will be available to eligible customers with a good track record of honouring their payments prior to 1 March 2020. The cashflow relief measures will be applied to both Retail and Commercial customers for a period of three (3) months (from 07 April – 30 June) and will include the following:

Instalment relief for the following product classes:
Retail customers: home loan, personal loan and WesBank loans;
SME customers: commercial property finance, vehicle and asset finance and term loans
SME businesses with an annual turnover up to P10 million and an initial loan amount not exceeding P5 million will benefit from our instalment relief program.

No fees will be charged for any relief granted;
Assistance for Retail customers with processing insurance claims, where possible; (typically retrenchment cases only, but not definitive). 
Interest and fees will continue to accumulate on outstanding balances.

Transactional Relief
The Bank will zero rate some payments on its digital banking channels. As of 02 April, the following payments will be 100% free until 30th April 2020:

Payments made on the FNB App;
Payments made on Mobile banking and
Cash withdrawals made through Cash@Till, a service which allows customers to withdraw cash from their accounts at selected grocery stores who offer the service through FNB POS Machines.

For the months of May and June, FNB App payments, mobile payments and Cash@Till fees will be offered at a 25% discount on the current fee. The Bank hopes that these measures will help ease customers’ financial constraints until things stabilise.

FNBB remains committed to helping its wider Commercial and Corporate Banking client base with a range of innovative cashflow relief solutions and urge our clients to contact their relationship managers in this regard.

For Cashflow Relief assistance and information customers can make contact via the FNBB digital banking channels or Contact Centre; and Commercial and Corporate Banking clients can contact their relationship managers. FNB remains committed to helping the nation address some of the prevalent economic difficulties during this time and beyond.