What is Retail Banks?
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking.
Below Are The List Of Retail Banks 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.
How many retail 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 2025.
What are retail banks in South Africa?
In South Africa, the retail banking sector has been dominated by five large banks, namely Standard Bank, First National Bank (FNB), Capitec, Absa and Nedbank. Together, they control approximately 90 percent of total banking sector assets.