The banks below make up the top 4 South African Banks based on their asset value, number of customers and number of employees as well as the general performance overtime
Top 4 South African Banks
1) Standard Bank
Standard Bank Group Limited involves three units: Personal and Business banking, Corporate and Investment banking, and Liberty Holdings Limited. Its services include transactional banking, investor services, trade finance, risk mitigation products and foreign exchange. The company has a revenue of $8.610bn and employs 54,770 people. The company was incorporated in 1969 and is based in Johannesburg.
2) FirstRand Bank Group
FirstRand bank group has managed to improve the local community and the country’s economy through their services. It has made investments from RMI Nigeria group to new franchise investments.
It was started in 1998 and since then, it has promoted itself through community development and promotions. As a usual banking institution, it offers insurance products and personal banking solutions to corporate, commercial and personal businesses. As such, this has helped it to grow rapidly over a short period of time. It has other investment options and this helps to widen its investment boundaries.
3) Absa Bank
Absa Bank Ltd is based in Johannesburg and employs 30,630 people. The company became incorporated in 1986 and its recent revenue was reported as $5.320bn. Absa provides retail, business, corporate and investment baking as well as wealth management. Its retail banking division provides home loans, vehicle and asset finance, personal loans and other services.
As well as Nedbank Limited banking, the Nedbank group also contains Go Banking and BoE Private Clients. As a whole, the group has revenue of $5.317bn and employs over 32,000 people. Some of the services it provides include a range of transactional, corporate, investment banking and market solutions. Founded in 1966, the corporation’s current headquarters is in Sandton.