[Promoted] SME lending returning to pre-Covid levels
For the Year Ended 30 June 2021, FNB Commercial extended lending to SMEs in excess of R41bn on the back of simplified, scored, digital lending processes. 44% of this amount was extended through unsecured funding.Between July and December 2021, FNB commercial advances grew 9%, reflecting the improvement in economic activity and appropriate risk appetite changes.
“The significant growth in SME lending activities is indicative of our commitment to lend to a wider range of small businesses at a time when credit is needed the most.” “A significant portion of our SME base are using the FNB App and Online Banking to take up unsecured lending products such as terms loans, revolving loan and overdraft facilities.”
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