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Top banks in South Africa

Banking in South Africa is one of the most profitable businesses. Banks in South Africa are stringently regulated and they offer a host of services to the customers. They play a major role in strengthening the economy of one of the most developed nations in the world. The top four banks in South Africa are ABSA, First National Bank (FNB), Nedbank and Standard Bank.

Top banks in South Africa

Listed below are the top banks in South Africa:

  1. ABSA - Amalgamated Banks of South Africa
  2. First National Bank
  3. Barclays in Africa
  4. Mercantile Lisbon Bank
  5. NedBank
  6. Rand Merchant Bank
  7. Standard Bank of South Africa
  8. WesBank

ABSA - Amalgamated Banks of South Africa

ABSA - Amalgamated Banks of South Africa is one of the biggest financial service providers in South Africa. The bank offers a full range of banking, wealth management and bancassurance products and services. It is a subsidiary of Barclays Bank plc. ABSA was founded in 1991.


First National Bank (FNB)

First National Bank is one of the “Big Four” banks in South Africa. The bank has subsidiaries in Mozambique, Swaziland, Namibia and Botswana. First National Bank has also started its business in Zambia.


Barclays in Africa

Barclays in South Africa was acquired by ABSA in 2006. ABSA is the biggest retail bank in South Africa with over 7 million customers. The Barclays Group has a majority stake of 56.4% in the ABSA Group. The products and services of Barclays in South Africa include the following:

Business banking

  1. Business Banking
  2. Corporate Banking
  3. Finance
  4. Employee Benefits
  5. Merchant Services
  6. Advisory Services
  7. Electronic Services
  8. International Trade Solutions

Personal banking

  1. Savings Accounts
  2. Basic Banking Accounts
  3. Credit Cards
  4. Current Accounts
  5. Home Loans
  6. Personal Loans
  7. Car Finance
  8. Repossessed Property
  9. Investments
  10. Repossessed Cars
  11. Insurance


Mercantile Lisbon Bank

Mercantile Lisbon Bank or Mercantile Bank was founded in 1987. It is a part of the prestigious CGD Group. Mercantile Lisbon Bank is an investment holding company and bank controlling company. The bank offers a suite of retail banking, commercial banking, card services, treasury services and bulk payment products and services.



NedBank is one of the biggest banks in South Africa. The corporate headquarters are based in Johannesburg. One of the newest banks in the sector, NedBank offers a host of services including individual banking, private banking, business banking, small business services and corporate and capital market products and services to the customers.


Rand Merchant Bank

Rand Merchant Bank is a diversified financial services provider in South Africa offering fund management, investment banking, advisory services and private wealth management services. It is a part of the FirstRand Group.


Standard Bank of South Africa

The Standard Bank of South Africa Limited is one of the leading financial services providers in South Africa. The bank has presence in 38 countries of the world. It was founded in 1862 and is headquartered in Johannesburg. The bank offers a variety of products in areas like corporate and investment banking and personal and business banking.



WesBank is one of the biggest credit installment companies in South Africa. Vehicle financing is the main line of business of WesBank. Products and services of WesBank can be categorized into personal finance, business finance and fleet solutions.


Banks in South Africa

Absa Bank

First National Bank

Standard Bank


Deutsche Bank


Bank of Baroda


Standard Chartered Bank

Commonwealth Bank of Australia


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