Number of registered banks in South Africa 2006-2023
As of October 2023, there were 30 registered banks in South Africa. Of those, 18 were domestic, and 12 were foreign banks with local branches. The number of banks has decreased since 2019, dropping from 35 to 31 in 2020, and stabilizing at 30 in 2022. In the observed period, the number of banks in the country increased between 2011 and 2019.
