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The FirstRand Group was established in 1998, by the merger of First National Bank of South Africa, Rand Merchant Bank and Momentum Insurance & Asset Management. FirstRand is listed as a "locally controlled bank" by the South African Reserve Bank , the national banking regulator. [ 8 ]
This is a list of commercial banks and other credit institutions in South Africa, as updated late 2024 by the Reserve Bank of South Africa. [ 1 ] [ 2 ] List of commercial banks
The FirstRand group's history traces back to the 1970s as an investment bank.The group as currently was established on 1 April 1998, through a merger of the financial services interests of Anglo American Corporation of South Africa Limited (now Anglo American plc) and RMB Holdings (RMBH) in order to achieve the objective of a unified financial services grouping.
In 1980, Farmers & Merchants Bank, Milford Center and The First National Bank of Burton merged with Huntington Bancshares. [14] In 1981, the bank acquired Alexandria Bank Company and renamed it The Huntington State Bank, with a loan production office opening in Cincinnati. In 1982, the bank merged with the Reeves Banking and Trust Company. [14]
In South Africa, the "big four" in order of value of assets are: [58] FirstRand Bank, operators of First National Bank. Standard Bank; Absa Group Limited, majority owned by Barclays between 2005 and early 2018; Nedbank, minority-owned by Old Mutual.
This is a list of banks in Africa, arranged by country in alphabetical order. Since comprehensive lists are available on a country-by-country basis, only the most important domestic banks are indicated for each country.
Absa Group Limited, commonly known simply as Absa and formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018, is a multinational banking and financial services conglomerate based in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange.
First National Bank Tanzania (FNBT), is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania , the national banking regulator. [ 1 ] It is a subsidiary of South Africa-based FirstRand Group .
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