Everyone in South Africa needs to know the top bank 2022. This is to make sure that you are using one of the best banks that will give you more bucks for your money.
We don’t always think about the bank we are using, and we don’t think about changing to another bank. There are just too many hassles in changing banks. However, what if you realize that you are actually using one of the banks that is the least popular and recommended? We are reviewing the top 7 banks in South Africa so that you can know what bank to consider when you realize it is time to switch.
The top bank 2022: Standard bank
And the top bank 2022 is Standard bank. Not a surprise to most people, but some didn’t think that Standard bank will end up as the number one bank in South Africa. We are going to tell you why the bank is number one and the most recommended bank to date.
They have total assets of around R2 Trillion. They aren’t just a bank in South Africa but they are also one of the largest banks across the Sub Saharan in Africa. At the moment they employ more than 54 000 people and has an operating history of about 155 years.
FirstRand bank is the surprise top bank in 2022
The surprise top bank 2022 is for sure FirstRand. Not many might realize it, but FirstRand is one of the best banks in South Africa. Just because they aren’t the most popular bank, it doesn’t mean that they aren’t the best.
FirstRand was created in 1998 through a merger of Anglo American Corporation of South Africa Limited. It is the second-largest bank with assists of about R1,2 Trillion. They have a large number of financial services available for personal as well as business use.
Absa or now known as Barclays Africa group
The third-largest bank is Absa. However, you might not know this but Absa’s name has changed to Barclays Africa group. It doesn’t just provide services for South Africa, but it also provides services for the whole of Africa. They have about 39 000 employees and its assets are about R1,1 Trillion rand. This was during 2017 calculated.
The only problem that many people have is that this bank is known as one of the most expensive as well. Meaning that their fees and interest rates are extremely high. A lot higher than the average bank. But, they are providing services for professional and business use.
Nedbank is the top bank 2022 with the most growth
Yes, Nedbank is more than just another financial service for borrowing money, or for getting a home or car finance loan. It is also now the fourth largest bank in South Africa and is known as the top bank 2022 in South Africa.
The reason why they are now one of the best and largest banks is because of the wide range of wholesale and retail banking services that they offer. At the moment they have more than 2000 branches and have more than 31 000 employees.
Investec is for sure one of the top banks 2022 in South Africa. And yes, they are a financial service and give banking services to everyone in South Africa. However, they are mostly an international specialist in banking and have different assets and wealth management options available. From retail, corporate, investment, and banking.
They are offering services to clients in Europe, Africa, and Asia. Their total assets are R415 Billion at the moment and are increasing yearly.
A bank that is growing fast is Capitec. In a couple of years, this bank might become one of the top banks in 2022, if not the best bank in South Africa. Their fees are reasonable, and they offer a huge number of services to their clients. Their headquarters are in the Western Cape and they have more than 800 retail branches in the country. Their assets are about R87 Billion, but just because they are still relatively new.
They are providing commercial, investments, and personal banking in Africa. Experts are saying that their investment opportunities are higher than with any other bank.
Don’t forget about the African bank. If you think that this bank is one of the smallest banks in South Africa, you need to think again. Not only are they the top bank in 2022 in South Africa, but they are also one of the best banks in Africa. They are offering services like loans, investments, debit and credit card services, and other banking services.
Their assets are about R32 Billion at the moment but are growing rapidly. Their head office is in Johannesburg but they have many branches all over the country.
These are the top banks 2022. You might be surprised about a couple of them, but according to experts, these are the best banks in South Africa at the moment. It can change at any given time because banks are creating new services and they are opening branches everywhere. You just need to remember to do your research before you choose a bank for your banking needs.