Banks Downscaling Home Loan Departments

Banks brace for home loan sales staff retrenchments

Retrenchments are looming in the home loan departments of two of the four major banks, according to Business Report on Thursday.

Chief executive of First National Bank (FNB) Home Loans Jan Kleynhans confirmed that the bank was restructuring its sales department.

"At the moment we have just taken the first steps by advising [about] 90 people who may be affected. FNB Home Loans has nearly 1 000 employees.