A few years ago, FNB's private banking and private wealth franchise grew customer numbers by double digits. As more banks focus their attention on private banking to lure the black card-loving South Africans, it's not the same anymore. Competition is getting even tougher with challenger banks targeting high-income earners, like Discovery Bank.
"As we sit now, we are looking at high single-digit internal client growth numbers," said FNB Private Client Channels CEO, Eric Enslin.