|Characteristic||Number of banks|
How many banks are there in South Africa?
There are 67 banks operating in the Republic of South Africa (RSA) including 17 local banks and 50 subsidiaries, branches and representative offices of foreign banks. Discovery, TymeBank and Bank Zero are the new challenger banks which were launched in 2019.
How many mutual banks are there in South Africa?
Banking system in South Africa includes 10 locally controlled banks, 7 foreign controlled banks, 3 mutual banks, 2 co-operative banks as well as about 50 branches and representative offices of foreign banks.
Which banks do we have in South Africa?
- Absa Group Limited.
- African Bank Limited.
- Bidvest Bank Limited.
- Capitec Bank Limited.
- Discovery Limited.
- First National Bank.
- FirstRand Bank – A subsidiary of First Rand Limited.
- Grindrod Bank Limited.
Who owns banks in South Africa?
South African Reserve Bank
|show 10 other official names:|
|Central bank of||South Africa|
|Currency||R ZAR (ISO 4217)|
Is current bank available in South Africa?
Banking services in South Africa
In addition to current and savings accounts, most major South African banks offer loans, mortgages, and investment services. Some also provide car and home insurance services. Current accounts: These accounts are for day-to-day banking.
Is there access bank in South Africa?
South Africa is getting a new retail bank – Access Bank South. The Nigerian multinational commercial bank acquired agricultural bank Grobank in March and officially launched its entry into the South African market on Monday.