Guest Contributor | Feb 21, 2024 | 0
Top FNB estate agents honoured
Performance of the agents, agencies and developers are tracked throughout a 12 month period starting on 1 April through to 31 March of the next year.
The main prize this year was an all-expenses paid trip and this year they will be travelling to the Western Mediterranean, while numerous other agents who brought between N$5 million and N$30 million to FNB Namibia were also rewarded with cash prizes and Namibian and South African trips.
The three main prize winners were Estate Agency of the Year: Just Property Group;
Developer of the year: Van Wyngaarden Projects and Estate Agent of the Year in the FNB Realtors Club for 2015 is Lona van Wyk, for the fifth consecutive year.
In his address Head of FNB Home Loans Thomas Slabbert said that FNB Home Loans reached a couple of milestones, such as the fact that FNB again managed to outperform the overall national property market by growing 14% as opposed to the national percentage of 13%.
He added,“This growth is mainly as a result of high property prices. Apart from the good growth which we have seen over the past year the property index also reflects that recent property prizes are beginning to contract.”
Slabbert thanked the estate agents, agencies and developers and said that total business approved which was received from all estate agents amounted to N$1billion.
Slabbert said the total mortgage book in Namibia reached a level of almost N$27 billion, of which FNB held the largest market share of 38.5%. “Our bank has maintained their prudent credit criteria throughout the last 12 months. We would like to believe that our superior service standards and products contributed to the growth of our book over the last year. Despite this excellent growth, our non-performing loans remained low at 1.15% compared to the industry ratio of 1.50%.”
“Apart from the mainstream home loan offering FNB also try and promote the affordable housing segment. Although we realise that a lot still has to be done to assist this segment of the market, we have noted strong growth numbers in this segment. The bank has also engaged with several other developers of affordable housing projects in order to try and stimulate this segment. In addition, FNB is very committed to assist with the Government initiative for the development of mass housing. The bank continues to engage roll players and is actively involved with assistance in this market. This includes the use of alternative building methods,” added Slabbert.
When looking at the future Slabbert concluded that FNB Home loans had embarked on fine tuning their existing front end system.