First National Bank (FNB) says it has paid out just over R1 billion to Ithala customers within 29 days of the disbursement process getting underway.
The payouts went live in December and already account for nearly half of the total funds earmarked for distribution. FNB CEO Harry Kellan said reaching the milestone in such a short period reflects the bank’s commitment to restoring customer access to their funds in a secure and dignified manner.
Kellan added that the payments are being made in phases, with customers receiving SMS notifications advising when to visit their nearest branch.
FNB has urged customers to wait for their official notification before heading to branches, to ensure an orderly and efficient payout process.