Trustco hits ground running with bank

Trustco Group Holdings have hit the ground running and have wasted no time in building its banking business, with former FNB Home Loans man, Thomas Slabbert heading up one of Namibia’s newest banks.
Trustco Bank Namibia became operational following an acquisition of Fides Bank Namibia’s license in 2014. The Economist recently spoke to Trustco spokesperson, Neville Basson on the latest developments at the bank.
“Trustco Bank has refocused; it recognises that the future of banking in Namibia will be driven by a cashless society that requires virtual channels through which they want to transact. The solution to this is an enterprise-scale approach to technology that streamlines service delivery and produces both superior customer experiences and transformational efficiency gains. It further provides a unified solution in order to manage credit, operational and compliance risk,” said Basson.
Trustco Bank employs staff at various offices throughout the country and has employed Mr Thomas Slabbert as their Chief Executive Officer.
Thomas has a wealth of banking experience according to Basson. Slabbert’s last stint included heading up FNB Home Loans. Trustco Bank Namibia is poised to roll out exciting new bank products which will include a state of the art online banking facility. We further will provide lending products such as Small Medium Enterprise loans, commercial loans and home loans. Trustco Bank currently provides very attractive deposit rates for both retail and wholesale clients. It also has a senior deposit product which provides very competitive interest rates,” Basson added.
Meanwhile, Basson said Trustco Bank currently has 3 fully operational branches situated in Oshakati, Omuthiya and Eros in Windhoek.