South Africa’s FNB Eyes Guernsey Expansion for Wealthy Clients

A unit of South Africa’s biggest bank by market value, FirstRand Ltd., plans to expand its offerings in Guernsey to tap more business from high-net-worth individuals and South Africans living on the island.

First National Bank, which has had a branch license for a decade, will apply for a credit permit by the end of the year, it said in a statement Monday.