ABSA Firstrand Bank First National Bank Nedbank Standard Bank Wesbank
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 June 30, 2016, it had a market capitalization of ZAR 3.8 billion.

African Bank Ltd – The commercial bank in South Africa. 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. 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 41,700 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 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 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

 The Largest Banks in South Africa

  Total Assets (R billion)

Bank 6/2015 2014 2013 2012 2011 2010 2009
Standard Bank Group 1,856.820 1,902.845 1,690.929 1,560.349 1,509.048 1,332.409 1,292.506
FirstRand Ltd 1,059.266 945.535 869.669 769.765 697.927 845.240 809.851
Barclays Africa Group 1,038.945 991.414 959.599 898.371 872.662 725.957 721.641
Absa Bank Ltd 1 859.143 812.013 789.371 763.920 740.002 690.410 648.619
Nedbank Group 867.000 809.313 749.594 682.958 648.127 608.718 570.703

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