Standard Bank Namibia has announced a reduction in banking fees for businesses come next year.
A statement issued by the group’s business and commercial division this week shows that inter-account transfers will now be free of charge.
“These revisions are designed to offer you better value, while supporting the efficiency and growth of your business,” the statement reads.
There is no increase in monthly management and bank confirmation letter fees.
Meanwhile, cash deposits, electronic payment fees, overdraft fees, and blue voucher fees have all been reduced.
The bank’s latest annual results show that at group level, although the corporate and investment banking leads with profits at N$576 million, the business and commercial banking division reported a profit of N$121 million – after a N$37 million loss posted in 2023.
