Battle of the banks 2022: Capitec vs Standard Bank vs FNB vs Absa vs Nedbank (BT)
As South Africa’s banking sector faces increasing competition from new digital entrants, a fierce battle still rages on among the ‘legacy’ institutions. Referred to as the ‘big five’, these firms go beyond retail offerings, with a full-service portfolio of credit, loans, asset management, and other services, while fending off new digital entrants into the market, including TymeBank, Discovery Bank, and Bank Zero. So which of these institutions – Capitec, Standard Bank, Absa, FirstRand or Nedbank – stands tallest, or is the biggest? It depends on the category. BusinessTech looked at the most recent annual financial reports (from 2021/22) and compared the big five banks on 12 key metrics – from financial performance to network and reach. Click here to read full article
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