Includes local branches of foreign banks.
Excludes mutual banks, co-operative banks, and foreign banks with approved representative offices.
The figures have been taken from several publications.
Data as of October 2023
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Number of registered banks in South Africa 2006-2023
As of October 2023, there were ** registered banks in South Africa. Of those, 18 were domestic, and ** were foreign banks with local branches. The number of banks has decreased since 2019, dropping from ** to ** in 2020, and stabilizing at ** in 2022. In the observed period, the number of banks in the country increased between 2011 and 2019.
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SARB. (November 16, 2023). Number of banks registered in South Africa from 2006 to 2023 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 29, 2026, from /statistics/915598/number-registered-banks-south-africa/
SARB. "Number of banks registered in South Africa from 2006 to 2023." Chart. November 16, 2023. ÌÇÐÄÆƽâ°æ. Accessed July 29, 2026. /statistics/915598/number-registered-banks-south-africa/
SARB. (2023). Number of banks registered in South Africa from 2006 to 2023. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 29, 2026. /statistics/915598/number-registered-banks-south-africa/
SARB. "Number of Banks Registered in South Africa from 2006 to 2023." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 16 Nov 2023, /statistics/915598/number-registered-banks-south-africa/
SARB, Number of banks registered in South Africa from 2006 to 2023 ÌÇÐÄÆƽâ°æ, /statistics/915598/number-registered-banks-south-africa/ (last visited July 29, 2026)
Number of banks registered in South Africa from 2006 to 2023 [Graph], SARB, November 16, 2023. [Online]. Available: /statistics/915598/number-registered-banks-south-africa/
