Zweli Mokgata and Xolile Bhengu

Zweli Mokgata and Xolile Bhengu

A First National Bank (FNB) advert advising consumers to "cut out satellite TV subscriptions" has been scrapped, following a settlement between the bank and satellite TV owner MultiChoice.

In an effort to help struggling consumers, FNB launched a campaign guide on surviving the credit crunch, which included what MultiChoice said was the potentially harmful advice to cancel satellite TV subscriptions.

Since DStv is the only company offering the service, holding company MultiChoice took offence to the advert and referred a complaint to the Advertising Standards Authority (ASA).

Jackie Rakitla, MultiChoice general manager of corporate affairs, said: "We have withdrawn the matter, but we can't go into the terms of the settlement.

"Fortunately we have not recorded any drop in business as a result of the advertisement."

FNB head of brand marketing communication Vicki Trehaeven said the complaint came as a surprise and the bank quickly met with MultiChoice on Wednesday to discuss the matter.

She said although the advert had not made a direct reference to MultiChoice, the bank had been sensitive to the pay channel's fears of the advice affecting its business. "We did not mean to suggest that consumers should cut off their subscription, but merely for them to weigh their options, such as switching to a cheaper bouquet."