For as little as R10, FNB now allows customers to invest and own shares in big global companies such as Amazon, Facebook, Apple, Microsoft, Netflix, Tesla, Coca Cola and Alphabet which owns Google.
This comes as a result of the bank listing 10 FNB Exchange Traded Notes (ETNs) on the JSE on 1 October.
The service allows customers from all income groups to have access to shares beyond South African borders.
First National Bank (FNB) announced that its customers and institutional investors in the country can now buy and own shares in big international companies for as little as R10 on the FNB app.
The companies in question include Amazon, Facebook, Apple, Microsoft, Netflix, Tesla, Coca Cola and Alphabet which owns Google.
According to the bank, this is a result of the listing of 10 FNB Exchange Traded Notes (ETNs) on the JSE on 1 October, giving investors access to a wide variety of wealth creation assets.
“We are excited to scale our invest activities by providing our customers and investors at large an opportunity to broaden exposure to wealth creation assets.
“Through FNB’s platform, customers have the opportunity to access both local and global shares which will allow them to diversify their portfolios during a very challenging time,” said FNB CEO Jacques Celliers.
To buy the shares, customers will need to have access to FNB’s share trading platform via FNB Online or the FNB App.
FNB Wealth and Investments and Ashburton CEO, Sizwe Nxedlana said the global shares will create financial inclusion, allowing customers across all income categories equal opportunity to own shares beyond South African borders.
“Our aim is to drastically minimise barriers to entry for individual customers and institutional investors. Over the years, we have invested heavily to building platform capabilities in our investment business and this is starting to manifest in solutions which are customer-centric, and valuable for customers across all income categories,” said Nxedlana.
For those who are not FNB customers but are interested in buying shares, they would have to visit the FNB website, select the investment they are interested in, create an account and follow the prompts.