Top Best Banks in South Africa

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The strength of a bank is indicated by its international reckoning, value, profitability, shareholders funds, net income, total assets, earnings, number of employees and customer deposits.  Going by these parameters, the following are the top best banks in South Africa.  Below the name of each bank are the indicators that show its strength.

Figures are from the latest published accounts (as at year end 2016, 2017 and 2018) of the banks and the 2018 ranking of banks in the world published by The Banker Magazine of the Financial Times Group London.

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best banks in south africa

1. Standard Bank Group

  • World Ranking: 145th out of world’s first 1000 banks
  • 2018 Value: R18.5 billion
  • Revenue: US$ 8.61 Billion (2016)
  • Net Income: US$ 1.54 Billion (2016)
  • Total Assets: US$ 142.9 Billion (2016)
  • Number of Employees: 54,767 (2016)
  • Founded: 15 October 1862

2. FirstRand

  • World Ranking: 173rd out of world’s first 1000 banks
  • 2018 Value: R19.4 billion
  • Revenue: R49.10bn
  • Net Income: US$1.8 billion (ZAR:24.5 billion) (2017)
  • Total Assets: US$93 billion (ZAR:1217.7 billion) (2017)
  • Number of Employees: 44,916 (2017)
  • Founded: 1998
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3. ABSA Group

  • 2018 Value: R18.9 billion
  • Revenue:  R72.900 billion (2017)
  • Net Income: R16.504 billion (2017)
  • Total Assets: R1.165 trillion (2017)
  • Number of Employees: 39,988 (permanent) (2017)
  • Founded: 1991
  • World Ranking:  184th biggest bank in the world

4. Nedbank Group

  • 2018 Value: R14.8 billion
  • Total Assets: R1 Trillion (30 June 2018)
  • Number of Employees: 31,592 (30 June 2018)
  • Founded: 1 March 1888
  • World Ranking: 217th out of the first 1000 banks in the world
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5. Investec South Africa

  • 2018 Value: R14.9 billion
  • Revenue:  £2,286.2 million (2017)
  • Net Income:  £442.5 million (2017)
  • Operating Income: £637.4 million (2017)
  • Founded: 1974
  • World Ranking: 338th position in the world

6. Capitec Bank Holdings

  • 2018 Value: R6.8 billion
  • Earnings: R2.547 billion (2015)
  • Total Equity: R13.659 billion
  • Total Assets: R62.945 billion
  • Number of Employees: 11,440 (2016)
  • Founded: 1 March 2001
  • World Ranking: 579 of the world’s first 1000 banks
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