|ABSA||First Rand Group||FNB||Nedbank||Standard Bank||WesBank|
Absa Bank – A leading South African bank with over 9 million retail and corporate customers. It operates as a subsidiary of Barclays Africa Group. As of September 27, 2016, it had a market capitalization of ZAR 3.8 billion.
African Bank – The commercial bank headquartered in Midrand. The company focuses on providing unsecured personal loans to residents of South Africa.
Al Baraka Bank – The pioneer of Islamic banking in South Africa. It operates as a subsidiary of the Bahrain-based Al Baraka Banking Group.
Barclays Africa Group (formerly Absa Group) – One of largest financial services companies in Africa with over 12 million customers and 41,200 employees.
Bidvest Bank – A leading foreign exchange specialist in South Africa. It focuses on all major currencies through a correspondent global network. As of June 30, 2015, it had total assets of R6.2 billion.
Capitec Bank Holdings – A commercial bank headquartered in Stellenbosch, South Africa. As of June 30, 2016, the company had a market cap of R67 billion (US$5 billion).
FirstRand Group – One of the largest financial institutions in the country. It includes FirstRand Bank, First National Bank, Rand Merchant Bank and WesBank. As of June 30, 2016, the Group had a market cap of R244 billion (US$17 billion).
First National Bank (FNB) is the oldest bank in South Africa established in 1838. It operates as a subsidiary of FirstRand Group.
Grindrod Bank (GRDB) – A competitive investment bank serving private, corporate and institutional customers. It is rated by GCR and has a stable outlook of BBB+ (ZA).
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 management group. It operates in three principal markets: the United Kingdom, South Africa and Australia.
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 as measured by assets. The group offers a wide range of wholesale and retail banking services, insurance products, and asset and wealth management. The Bank is 55% owned by the parent company, Old Mutual plc.
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 individuals and businesses, focusing on corporate clients and high net worth individuals.
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 a full-service financial group with operations in 20 African countries. As of June 30, 2016, it had a market cap of about R207 billion (US$14 billion).
Ubank Ltd (formerly Teba Bank) – A South African bank operating in the microfinance sector. It operates primarily within the gold and platinum mining communities.
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 – 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.
See also: Foreign Banks in South Africa
Top Banks in South Africa
Total Assets (ZAR billion)
|1||Standard Bank Group||1,947.77||1,979.35||1,902.85||1,690.93||1,560.35||1,509.05|
|3||Barclays Africa Group||1,142.47||1,144.60||991.414||962.863||898.371||872.662|
|4||Absa Bank *||947.241||936.141||814.061||792.635||763.920||740.002|
* Absa Bank Ltd is a wholly owned subsidiary of Barclays Africa Group.