FCB Bank Eyes New Market Segment
First Capital Bank says it has identified a new market segment for provision of credit to civil servants, farmers and business startups to meet the current demand of easy loan access amid the economic woes.
In a statement, the bank’s head of marketing Twikale Chirwa says the loan facility which mainly targets its existing customers, will also be available to non -customers in remote areas.
“The credit service of a civil servant does not require any collateral with access up to K 3 million,” said Chirwa.
“This will significantly benefit civil servants who currently have limited access to credit. In addition, these customers will be given the option of becoming banked by First Capital Bank,’’ Chirwa added in the statement.
The statement also stressed the requirement for the civil servant to have a valid national identity document and show stamped bank statement if applicable to get the loans.
The bank provides credit services to all civil servants that are deducted through the centralized Malawi Payments Solutions.
(by Mathias Mkupasha)