Top 20 banks in South Africa
South Africa is among the most popular country in Africa alongside Nigeria and Egypt. We will be looking at the top 20 banks in South Africa, one of the most developed countries in Africa. The country is mixed with both blacks and whites, with a population of over 50 million people.
At the number you will agree with me there will be high demand for bank services. There are many banks in the country but I will focus my attention on the best 20.
Top 20 banks in South Africa
Major Banks
1. Absa
One of the best banks in South Africa. Founded in 1991, with its headquarters in Johannesburg, South Africa.
They have more than 9 million customers which keeps increasing in number as the day goes by. You might not know about this, but it is a subsidiary of Barclays Africa Group.
2. Standard Bank
This is the largest bank in this list. With the highest earnings and assets, they have more than 50,000 employees.
The standard bank was founded over 150 years ago on 15 October 1862 by John Paterson. They are found in many countries ranging from Africa to other parts of the world.
3. First National Bank (FNB)
Another great bank in South Africa, FNB has made the list. It was founded in the year 1838 in Grahamstown, South Africa, making it the oldest bank in the country.
It is a section of First Rand Limited and has spread to other African countries.
4. Capitec Bank
Founded on March 1, 2001, It has its headquarter at 1 Quantum Street, Techno Park, Stellenbosch, Western Cape, South Africa. With the little years they came into operation, they have managed to write their name in gold as one of the best banks in the country.
A good success record has been met with over 11,000 employees, 500 retail branches nationwide, and more than 6.2 million customers.
5. Nedbank
When rated by assets, this bank comes at the fourth position in the country. It was founded in the Netherlands and Amsterdam to be precise on 1 March 1888.
Their focus is on South Africa but has managed to extend their operations to Eswatini, Lesotho, Malawi, Mozambique, Namibia, and Zimbabwe. As of 2018, they have 31,277 employees.
