{"id":573,"date":"2013-08-30T13:32:58","date_gmt":"2013-08-30T12:32:58","guid":{"rendered":"https:\/\/buzzsouthafrica.com\/?p=573"},"modified":"2021-08-14T07:14:40","modified_gmt":"2021-08-14T06:14:40","slug":"top-5-biggest-banks-in-south-africa","status":"publish","type":"post","link":"https:\/\/buzzsouthafrica.com\/top-5-biggest-banks-in-south-africa\/","title":{"rendered":"Top 5 Biggest Banks In South Africa"},"content":{"rendered":"

Banking in the South African region is an important service as it serves a variety of purposes, including businesses, consumers, and investors. South African Banks are among the biggest banking corporations in the entire African continent. And the existence of these banking institutions in South Africa has attracted investment, both globally and locally. As of 2011, the top four biggest banks in the African continent were from South Africa. They included Standard Bank Group, Absa Group, FirstRand Bank Group, Nedbank Group, and Investec Group.<\/p>\n

These banks not only have a good financial infrastructure but are also being regulated by a central unit, the South African Reserve Bank, as well as the financial sector conduct authority. Following the recession suffered by the South African economy in the fourth quarter of 2019, some financial institutions have recorded a decline in their market capitalization while some have improved. Needless to say, 2019 saw 7 South African banks making it to the list of The Banker’s world’s top 1000 biggest banks<\/a>, but in 2020, this number has reduced to 5. As of 2021<\/a>, Investec has secured the crown of South Africa\u2019s best-performing lender for the second year running.<\/p>\n

While this change has been attributed to the nation’s economic recession and the coronavirus pandemic, it is pertinent that some of the banks listed above have retained their position presently. That being said, we bring you the major banking institutions in South Africa, offering services to their clients and bringing development, both locally and globally.<\/p>\n

NB:<\/strong> The banks listed below have been graded based on their market capitalization.<\/p>\n

Top 5 Biggest Banks in South Africa<\/strong><\/h2>\n
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1. Standard Bank Group<\/strong><\/h3>\n

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This is one of the highly rated and recognized banking institutions in South Africa, and Africa’s biggest lender by assets. Since its inception in 1862, it has celebrated over 150 years of impeccable service. Based in Johannesburg, the bank has over 600 branches, more than 50,000 employees, and 7,100 ATMs, catering for over 10 million customers. They offer a wide range of products and services, including banking, borrowing in terms of loans, insurance, investment opportunities, and more importantly, self-service banking.<\/p>\n

Although many of its services are in the banking sector, it also offers reliable procurement services. Beyond that, Standard Bank has established sponsorship opportunities and entertainment, which encourages sports development. It offers several job opportunities to its members and surrounding communities. This makes Standard Bank Group one of the best, with its considerable and affordable business rates. Outside South Africa, Standard Bank also operates in 20 Sub-Saharan African countries.<\/p>\n