{"id":76883,"date":"2024-09-19T15:32:00","date_gmt":"2024-09-19T15:32:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/bank-windhoek-invests-n400m-in-digital-services"},"modified":"2024-09-19T15:32:00","modified_gmt":"2024-09-19T15:32:00","slug":"bank-windhoek-invests-n400m-in-digital-services","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/bank-windhoek-invests-n400m-in-digital-services","title":{"rendered":"Bank Windhoek invests N$400m in digital services"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span> <\/b>
\nThe branch will remain an integral part of Bank Windhoek\u2019s business, Bank Windhoek\u2019s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman has said.<\/p>\n

The branches remain important for clients who come for financial advice and other commercial services.<\/p>\n

Over the last three years, Bank Windhoek has invested N$400m in digital platforms and Chapman said the bank will continue to invest in data and digital services in the future.<\/p>\n

He told Observer Money that when the bank embarked on the digital journey, its view was not that the branch will become obsolete. Chapman said transactions services are more likely to go to digital and the branch becoming more of an advice and relationship channel.<\/p>\n

\u201cIt is the translatability that we are moving to digital channels. In our view the branch will continue to exist and we are thinking about expanding our branch footprint. We have seen in South Africa, that banks that have reduced their footprint but two years down the line, they are rolling out branches in those exact same locations once again.\u201d<\/p>\n

In addition to digital channels, Bank Windhoek has introduced digital services at branches to cater for Namibians who have no access to digital devices and the internet who can come into the branches and use self-services devices to transact in branch. Bank Windhoek is becoming more competitive in the digital space in the banking sector.<\/p>\n

Bank Windhoek\u2019s net profit after tax grew 14.4% to N$1.25 billion in the financial year ended 30 June 2024, (2023: N$1.09 billion). The bank enjoyed significant growth across all its key segments, particularly Selekt Platinum, Capricorn Private Wealth and SME. The Corporate Institutional Banking (CIB) team also secured important deals in the mining and retail sector.<\/p>\n

In the business banking segment, the bank appointed agricultural and mining experts to grow its exposure to these industries. The bank\u2019s capital and liquidity position remains sound, with liquidity ratios well above regulatory requirements. The bank has continued to grow local cheap funding sources, including current and savings deposits, while not increasing foreign funding sources.<\/p>\n

Bank Windhoek is the local market leader in loans and advances, ending the year with a 35.5% market share.<\/p>\n

\u201cIt is considered a dominant player in the Namibian banking industry. While this will limit growth opportunities, the bank will maintain market share by providing superior customer service and enhancing its offerings,\u201d the bank said in the financial year ended 30 June 2024.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The branch will remain an integral part of Bank Windhoek\u2019s business, Bank Windhoek\u2019s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman has said. The branches remain important for clients who come for financial advice and other commercial services. Over the last three years, Bank Windhoek has invested N$400m in […]<\/p>\n","protected":false},"author":84,"featured_media":76882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-76883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nBank Windhoek invests N$400m in digital services - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/bank-windhoek-invests-n400m-in-digital-services\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Windhoek invests N$400m in digital services\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. The branch will remain an integral part of Bank Windhoek\u2019s business, Bank Windhoek\u2019s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman has said. The branches remain important for clients who come for financial advice and other commercial services. 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