Wesbank

WesBank provides instalment credit and fleet management services to retail, commercial and corporate customers in South Africa, where FirstRand describes it as holding a market-leading position built on alliances with motor manufacturers and dealers. It was previously described as the country’s largest provider of car loans and car insurance solutions, financing 1 in 3 new cars sold, a claim that does not appear in FirstRand’s current description of the division. It also operates in the unsecured lending market through the Direct Axis. MotoNovo Finance, the United Kingdom asset finance company that focuses on vehicle finance and consumer loans, is no longer part of WesBank. Following FirstRand’s acquisition of Aldermore in March 2018, a new company, MotoNovo Finance Limited, was established under Aldermore, and on 4 May 2019 it acquired certain trading assets and liabilities, along with the balance of dealer financing, from the London branch of FirstRand Bank Limited. MotoNovo Finance began trading as part of the Aldermore Group on 5 May 2019; Aldermore Group now comprises Aldermore Bank PLC and MotoNovo Finance Limited, and FirstRand lists WesBank, Aldermore and MotoNovo as separate businesses in its portfolio. WesBank has a presence in other African countries including Namibia, Kenya, Nigeria, Botswana, Lesotho, Mozambique, Swaziland, Tanzania and Zambia. The company was established in 1968 and is headquartered in Fairland, a residential suburb in northern Johannesburg. Wesbank operates as a division of FirstRand Bank Limited, a wholly owned subsidiary of the FirstRand Group.

Principal activities:
Vehicle and asset finance
Fleet Finance and Fleet Management services
Finance for expensive capital equipment for business
Import finance
Insurance and value added products (personal insurance, vehicle insurance, leisure insurance, personal loans)

 Financials (R billion)

Head Office address:
Enterprise Road
Fairland, Johannesburg
2170 South Africa
Phone number: (011) 632 6000
Hours: Monday - Friday, 8:00 am - 17:00 pm
Saturday, 8:00 am - 12:00 pm
Website: www.wesbank.co.za

The financial figures above are those reported for the 2017 financial year and have not been updated since.