Big five banks hold 90% of sector assets: report

File: Banks

File: Banking apps seen on a smartphone. eNCA

eNCA

JOHANNESBURG - South Africa's five largest banks hold nearly 90 percent of the total assets of the 31 regulated lenders overseen by the Prudential Authority. This is according to the authority's 2021/2022 annual report.

It also showed that the total banking sector assets grew 5.61 percent year-on-year to R6.82-trillion.

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This, it says, was driven largely by higher loan advances as well as holdings of investment securities such as government bonds and short-term negotiable instruments.

Local branches of the 13 international banks operating in the country accounted for 5.97 percent of sector assets.

Locally registered lenders are just 4.24 percent of the sector’s assets.

Source
eNCA

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