ABSA Firstrand Bank First National Bank Nedbank Standard Bank Wesbank
ABSA First Rand Group FNB Nedbank Standard Bank WesBank
  • ABSA – A leading South African banking group with over 12 million retail and corporate customers. The Group offers financial products and services in RSA, Angola, Mozambique, Namibia, Tanzania and Zimbabwe.
  • African Bank Investments Ltd (ABIL) – The country's largest credit bank, which operates in RSA, Zambia, Botswana, Lesotho, Namibia and Swaziland. The focus of the group is to underwrite largely unsecured credit risk through the provision of personal loans to the formally employed emerging market.
  • Al Baraka Bank – The pioneer of Islamic banking in South Africa, has been operating in RSA for over 20 years. It is a subsidiary of the Bahrain-based Al Baraka Banking Group.
  • Bidvest Bank – A leading specialist provider of travel foreign exchange and related services. It focuses on all major currencies through a correspondent global network. As of June 30, 2013, it had total assets of R4.6 billion.
  • Capitec Bank Holdings – A commercial bank headquartered in Stellenbosch, South Africa. As of February 2014, the company had R46.191 billion (US$4.3 bn) in total assets.
  • FirstRand Group – One of the largest financial institutions in the country. It includes First National Bank, Rand Merchant Bank, OutSurance, Momentum and WesBank.
  • First National Bank (FNB) – The oldest bank in South Africa and one of South Africa's "big four" banks. It now operates as a division of FirstRand Bank.
  • Grindrod Bank (GRDB) – A commercial bank in South Africa, established in 1994. It was originally known as Marriott Merchant Bank and changed its name to Grindrod Bank in November 2006.
  • HBZ Bank – A wholly owned subsidiary of Habib Bank AG Zurich. It was launched in 1995 and maintains branches in Kwa-Zulu Natal and Gauteng. HBZ has a division specialising in Islamic Banking.
  • Investec Group – is a focused specialist bank and asset manager. In 2002, it became the first South African company to list on both the London and Johannesburg stock exchanges. The group employs over 8,150 people worldwide.
  • Mercantile Bank Holdings – An investment holding company, providing international and domestic banking services to retail and corporate customers. It has two subsidiaries: Mercantile Bank and Mercantile Insurance Brokers that provides life insurance and short-term broking services. Mercantile Bank Holdings is a division of Caixa Geral de Depositos S.A.
  • MMI Holdings – A financial services group providing insurance, savings, asset management, investments, healthcare administration and employee benefits.
  • Nedbank Group – The South Africa’s fourth largest banking group measured by assets. The group offers a wide range of wholesale and retail banking services through five main business clusters.
  • Rand Merchant Bank (RMB) – The investment banking arm of the FirstRand Group and one of the leading corporate and investment banks in Africa.
  • Sasfin Bank – A niche banking and financial services group headquartered in Waverley. The company serves both individuals and businesses, focusing on large corporate clients and high net worth individuals. Sasfin was founded in Johannesburg in 1951 by Sydney Sassoon – father of the current CEO Roland Sassoon.
  • South African Reserve Bank – The central bank of the RSA. It maintains that South Africa has a growing economy based on the principles of a market system, private and social initiative, effective competition and social fairness.
  • Standard Bank Group – The largest bank in Africa by assets and earnings. It is universal bank and full-service financial group with operations in 20 African countries. Outside the African continent, the Bank's operations span 15 countries, with an emerging market focus. As of May 21, 2014, it had a market cap of about US$21.8 billion.
  • Teba Bank (Ubank) – A South African bank operating in the microfinance sector. In October 2010, Teba Bank has officially changed its name to Ubank.
  • United Bank – Allied Bank, United Bank and Volkskas Bank stop trading under their own names, from this point they all trade under the name "ABSA".
  • WesBank – Wesbank was founded in 1968 and currently the largest provider of vehicle finance in South Africa, financing 1 in 3 new cars sold. The Bank operates as a division of FirstRand Bank.

The Largest Banks in South Africa

    Total Assets (R billion)

Bank 2013 2012 2011 2010 2009
Standard Bank Group Ltd 1,690.929 1,560.349 1,509.048 1,332.409 1,292.506
Barclays Africa Group Ltd 959.599 898.371 872.662 725.957 721.641
FirstRand Ltd 869.669 769.765 697.927 845.240 809.851
Absa Bank Ltd 1 789.371 763.920 740.002 690.410 648.619
Nedbank Group Ltd 749.594 682.958 648.127 608.718 570.703

1 - Absa Bank Ltd is a wholly owned subsidiary of Barclays Africa Group.