While South African lenders continue to dominate the top African positions in The Banker’s Top 1000 World Banks ranking, domestic economic pressures, combined with the worst outbreak of Covid-19 on the continent, have hit the country’s lenders hard. After posting gains across the board in 2019, just three of the country’s seven lenders in this year’s rankings saw an increase in their Tier 1 capital position in 2020, as higher impairments took their toll on balance sheets.
Standard Bank consolidated its position as the continent’s largest lender — a position it has held for more than 20 years — with a 5.8% gain in its Tier 1 capital base, the only one of the country’s big four to record such an increase. While impressive in the circumstances, Standard Bank slips five places in the overall Top 1000 to 157th place.
