- BancABC Botswana extends repayment period on personal loans
- First commercial bank to market a product aimed at providing support to customers
Gaborone: BancABC, today announced the launch of a personal loan product focused on extending customers’ existing credit facility tenure from 72 months to 84 months. BancABC is the first commercial bank in Botswana to market such a financial product, demonstrating the Bank’s customer-centric approach and ability to provide innovative, financial solutions to its clients.
The consumer is the Bank’s largest stakeholder, and BancABC understands that by providing the extended repayment tenure, this will ensure peace of mind and much-needed financial relief for its clients during these turbulent economic times. The new product is reflective of BancABC’s customer focus and insight which enabled the Bank to adopt a targeted approach that offers value to its customers.
Head of Retail Banking, Grace Setlhare-Mankanku commented, “We acknowledge and understand that this is a difficult time for our customers whose financial means have been negatively impacted by the global pandemic. After various engagements and research, we are pleased to offer our client base the additional financial cushion to help them navigate this time of uncertainty”.
BancABC continues to pursue its vision to be the preferred banking partner in Botswana by exploring ways to reinvent financial solutions that empower our customers to fulfil their dreams at every stage of their life’s journey. The decision to come to market with the product embodies BancABC’s spirit of solidarity and deliberate efforts to ensure the people of Botswana obtain sustainable financial freedom. Additionally, the product allows customers the opportunity to pay lower instalments, therefore qualifying for more credit and ensuring that they have more disposable income for their essential needs.
“The product will be available to all our trusted customers, and we believe that this offering will empower them to not only continue to realize their goals and ambitions during these unprecedented times but provide the much needed financial reprieve”, concluded Setlhare-Mankanku.
About Atlas Mara
Atlas Mara (www.atlasmara.com) was listed on the main market of the London Stock Exchange in December 2013. Atlas Mara's strategy is to create Sub-Saharan Africa's premier financial services institution through a combination of its experience, expertise and access to capital, liquidity and funding.
Its goals are to combine the best of global institutional knowledge with extensive local insights and to support economic growth and financial inclusion in the countries in which it operates.
BancABC Botswana is a part of the Atlas Mara Group. Our vision is to be the trusted local bank in Botswana, offering world-class solutions and building profitable, lifelong customer relationships through the provision of a wide range of innovative financial products and services to benefit all stakeholders. BancABC in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe.
The group offers a diverse range of products in corporate banking, treasury services, retail & SME banking, asset management and stockbroking.