BY MBONGENI NDLELA
EZULWINI – FNB Eswatini has officially announced that it is now a E10 billion company, marking a historic moment in the bank’s 30-year journey of resilience, innovation, and growth.
Speaking at a well-attended media and stakeholders’ breakfast at the bank’s headquarters in Ezulwini, Chief Financial Officer Njabulo Dlamini confirmed that FNB’s audited 2025 financial results, approved by regulators including the Central Bank of Eswatini and the Stock Exchange, reflect a balance sheet that has surged to E10.3 billion, underpinned by growth in both advances and deposits.
From Humble Beginnings to a Billion-Rand Legacy
Tracing the institution’s history, Dlamini highlighted that when FNB Eswatini first opened its doors in 1995, it recorded a modest E890 000 profit. Three decades later, profits have expanded to E268 million, translating to a compounded annual growth of 21%.
“This company has demonstrated resilience,” Dlamini said. “Where there were shocks, whether it was COVID-19, global conflicts, or shifting policies, we did not only rebound, but came back stronger. The E10 billion milestone is a testament to a true growth story in this country.”
Growth Driven by Customers and Innovation
The CFO explained that profit margins remained flat year-on-year, but total assets grew by 6%, reflecting strong fundamentals. Advances rose to E4.7 billion, while deposits climbed to E6.6 billion, showing that FNB continues to win the trust of both individual and corporate clients.
Key drivers of this growth include:
- SME Lending: Over E250 million extended to small and medium enterprises, boosting sectors such as agriculture and trade.
- Retail Solutions: Easier access to home loans and car finance through streamlined processes.
- Digital Transformation: The FNB app saw transaction volumes jump from E4 million in 2024 to E100 million in 2025, showcasing rapid adoption of digital banking.
- Financial Inclusion: The popular eWallet and Cash Plus agent network now process over E1 billion in transaction values, reaching communities far from physical branches.
Investing for the Future
FNB’s growth has not come without deliberate choices. Operating expenses rose as the bank expanded investment in its people, technology, and customer service. Staff costs alone account for 43% of expenditure, underscoring the bank’s commitment to nurturing local talent.
“FNB is prioritising its people,” said Dlamini. “We are creating an environment where employees love to work, while building in-house expertise to keep innovating.”
Technology development, which already accounts for 10% of investment, is set to continue as the bank phases out legacy systems and optimises customer experience.
A Solid Foundation for Shared Prosperity
As FNB celebrates its 30th anniversary, Dlamini emphasised that the bank is well-capitalised to absorb global shocks while continuing to invest in Eswatini’s economic future.
“We started with less than a million in profit, and today we are a E10 billion company,” he said. “This milestone is not only a celebration for FNB, but a story of resilience, innovation, and shared prosperity for Eswatini.”
