For South Africa’s banking sector, the largest in Africa, 2014 passed in a similar vein to 2013 – both years were dominated by the weak performance of the national economy and the ensuing volatility of the rand. In 2013, the rand lost 13% of its value against the dollar, and though 2014 did not see another rapid depreciation, rand volatility remained high.
This hampered the ability of South Africa’s banks to improve their capital adequacy. Four out of its top five lenders have fallen in the Top 1000 World Banks 2015 ranking, with a sixth, African Bank, dropping out of the table entirely.