Report Coverage
This report covers the banking industry in South Africa including the major commercial banks, development banks, central bank, digital banks, microfinancing and stokvels. It includes comprehensive information on the size and state of the sector, industry statistics and performance indicators, rankings, corporate actions and other developments. There are profiles of 81 companies including the major banks such as FirstRand (FNB), ABSA, Standard, Nedbank, Capitec and Investec, development banks such as the Land Bank and relatively new players such as TymeBank and Bank Zero.
The Banking Industry in South Africa
South Africa’s banking sector is well capitalised and its capital adequacy and liquidity ratios have remained well above minimum statutory requirements. Total banking sector assets increased in the year to end-March 2022, with increases reported in gross loans and advances, investment and trading securities and short-term negotiable securities. Profitability improved significantly. However, the operating environment remains highly volatile and the banking sector is facing elevated domestic and global risks, including the possibility of being placed on an international grey list over South Africa’s failure to implement adequate measures to prevent illicit money flows.
Trends
Mobile and digital banking are key drivers of financial inclusion in South Africa. Despite the uptake of digital banking, cash transactions are prevalent, and banking activity continues to be dominated by cash withdrawals, which are often made at supermarket till points. Many banks are consolidating and closing underserved branches and ATMs. Demand for credit is rising, and rising inflation and interest rates are placing consumers under growing pressure and increasing the risk of bad debt. Cybercrime poses a growing threat to banking service providers and their customers, and money-laundering is on the increase.
Financial Inclusion
South Africa’s formally financially included is high at over 90% and various banks offer products for low-income earners. Co-operative financial institutions and microfinance institutions play a fundamental role in financial inclusion. Stakeholders say that migration to formal savings platforms has accelerated since 2020.








Full Report
R 9 500.00(ZAR) estimated $501.00 (USD)*
Industry Overview
R 6 650.00(ZAR) estimated $ 350.70 (USD)*
Historical Reports
The Banking Industry in South Africa 2021-03-16
R 6 500.00(ZAR) estimated $342.79 (USD)*
View Report Add to CartThe Banking Industry in South Africa 2019-09-06
R 1 900.00(ZAR) estimated $100.20 (USD)*
View Report Add to CartThe Banking Industry in South Africa 2018-08-03
R 1 900.00(ZAR) estimated $100.20 (USD)*
View Report Add to CartThe Banking Industry in South Africa 2017-04-06
R 1 900.00(ZAR) estimated $100.20 (USD)*
View Report Add to CartThe Banking Industry in South Africa 2016-03-31
R 1 900.00(ZAR) estimated $100.20 (USD)*
View Report Add to CartThe Banking Industry in South Africa 2015-02-03
R 1 900.00(ZAR) estimated $100.20 (USD)*
View Report Add to CartTable of Contents
[ Close ]PAGE | ||
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1. | INTRODUCTION | 1 |
2. | DESCRIPTION OF THE INDUSTRY | 1 |
2.1. | Industry Value Chain | 9 |
2.2. | Geographic Position | 11 |
2.3. | Size of the Industry | 13 |
2.4. | Key Success Factors and Pain Points | 17 |
3. | LOCAL | 18 |
3.1. | State of the Industry | 18 |
3.2. | Key Trends | 24 |
3.3. | Notable Players | 25 |
3.4. | Corporate Actions | 29 |
3.5. | Regulations | 32 |
3.6. | Enterprise Development and Social Economic Development | 37 |
4. | AFRICA | 39 |
5. | INTERNATIONAL | 43 |
6. | INFLUENCING FACTORS | 45 |
6.1. | The War in Ukraine | 45 |
6.2. | Economic Environment | 47 |
6.3. | COVID-19 | 48 |
6.4. | Financial Inclusion | 50 |
6.5. | Technology, Research & Development (R&D) and Innovation | 51 |
6.6. | Government Support | 54 |
6.7. | Labour | 54 |
6.8. | Cryptocurrency | 55 |
6.9. | Crime | 55 |
6.10. | Environmental Issues | 57 |
7. | COMPETITIVE ENVIRONMENT | 58 |
7.1. | Competition | 58 |
7.2. | Ownership Structure of the Industry | 59 |
7.3. | Barriers to Entry | 59 |
8. | SWOT ANALYSIS | 59 |
9. | OUTLOOK | 60 |
10. | INDUSTRY ASSOCIATIONS | 61 |
11. | REFERENCES | 62 |
11.1. | Publications | 62 |
11.2. | Websites | 63 |
APPENDIX 1 | 65 | |
Summary of Notable Players | 65 | |
COMPANY PROFILES | 89 | |
Absa Bank Ltd | 89 | |
Access Bank South Africa Ltd | 93 | |
African Bank Ltd | 95 | |
African Dawn Capital Ltd | 97 | |
Albaraka Bank Ltd | 99 | |
Bank of China Ltd | 102 | |
Bank of Taiwan Co. Ltd | 105 | |
Bank Zero Mutual Bank | 108 | |
Barko Financial Services (Pty) Ltd | 109 | |
Bayport Financial Services 2010 (Pty) Ltd | 111 | |
BetterHome Group Ltd | 114 | |
Bidvest Bank Ltd | 116 | |
BNP Paribas Personal Finance South Africa Ltd | 119 | |
BNP Paribas S.A. | 121 | |
British Airways PLC | 126 | |
C T International Financiers (Pty) Ltd | 129 | |
Capital Harvest (Pty) Ltd | 130 | |
Capitec Bank Ltd | 132 | |
China Construction Bank Corporation | 134 | |
Citibank N.A. | 137 | |
Clicks Group Ltd | 140 | |
Deutsche Bank AG | 143 | |
Development Bank of Southern Africa | 159 | |
Diners Club (S A) (Pty) Ltd | 162 | |
Dis-Chem Pharmacies Ltd | 164 | |
Discovery Ltd | 172 | |
Discovery Vitality (Pty) Ltd | 176 | |
Ditsobotla Primary Savings and Credit Co-Operative Bank Limited Primary Co-Operative | 178 | |
Exclusive Books Group (Pty) Ltd | 180 | |
Finbond Group Ltd | 183 | |
FirstRand Bank Ltd | 186 | |
Foschini Group Ltd (The) | 190 | |
Fundi Capital (Pty) Ltd | 194 | |
Gauteng Enterprise Propeller | 196 | |
GBS Mutual Bank | 198 | |
Grindrod Bank Ltd | 200 | |
Habib Overseas Bank Ltd | 203 | |
HBZ Bank Ltd | 205 | |
HSBC Bank PLC | 207 | |
ICICI Bank Ltd | 209 | |
iMasFinance Co-Operative Limited Primary Co-Operative | 212 | |
Industrial Development Corporation of South Africa Ltd | 215 | |
Investec Bank Ltd | 223 | |
Ithala Development Finance Corporation Ltd | 227 | |
JPMorgan Chase Bank N.A. | 229 | |
Land and Agricultural Development Bank of South Africa | 231 | |
Lewis Group Ltd | 234 | |
Mahala Loyalty Program (Pty) Ltd | 237 | |
MTN Group Ltd | 239 | |
National Youth Development Agency (The) | 242 | |
NBC Holdings (Pty) Ltd | 244 | |
Nedbank Ltd | 247 | |
Old Mutual Finance (RF) (Pty) Ltd | 254 | |
Ooba (Pty) Ltd | 256 | |
Oranjekas Spaar en Krediet Kooperatief Beperk Primary Co-Operative | 259 | |
OSK Kooperatiewe Bank Beperk Primary Co-Operative | 261 | |
Phakamani Foundation NPC | 263 | |
Pick n Pay Stores Ltd | 264 | |
Primedia (Pty) Ltd | 267 | |
Retailability (Pty) Ltd | 270 | |
SA Home Loans (Pty) Ltd | 273 | |
SA Taxi Development Finance (Pty) Ltd | 275 | |
Sasfin Bank Ltd | 276 | |
SaveAct Trust | 278 | |
Small Enterprise Finance Agency Ltd | 279 | |
Small Enterprise Foundation NPC (The) | 282 | |
South African Airways SOC Ltd | 285 | |
South African Reserve Bank | 288 | |
Spot Money SA (Pty) Ltd | 291 | |
Standard Bank of South Africa Ltd (The) | 292 | |
Standard Chartered PLC | 296 | |
Suid-Afrikaanse Poskantoor SOC Ltd | 299 | |
Thuthukani Financial Services Holdings (Pty) Ltd | 302 | |
Transaction Capital Ltd | 304 | |
Tyme Bank Ltd | 307 | |
Ubank Ltd | 309 | |
Virtual Market Place (RF) (Pty) Ltd | 312 | |
Vodacom Group Ltd | 314 | |
Wellness Warehouse (Pty) Ltd | 317 | |
Woolworths Financial Services (Pty) Ltd | 320 | |
Ziphakamise Savings and Credit Co-operative Bank Limited Primary Co-Operative | 322 |