The implementation of Basel III capital requirements, which were drawn up to prevent a repeat of the 2008–09 global financial crisis, is a major concern for South African banks. Research by consultants Bain & Co found that the net stable funding ratio (NSFR) required by Basel III would cost South Africa’s five biggest banks R471bn ($56.4bn) in new capital through increased costs or greater wholesale lending.
As in our pan-African survey of the Top 100 African Banks, South African banks dominate our table of the Top 25 banks in Southern Africa. The largest South African financial institutions are more than 10 times the size of the largest in any other African country.
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As last year, the five biggest banks in the Southern African Development Community (SADC) region outside South Africa are all Angolan, reflecting the continued strong economic growth and cash rich economy that stems from the country’s oil industry.