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From Wikipedia, the free encyclopedia
Banking in South Africa is centred on the South African Reserve Bank (SARB), which is the monetary authority and controls gold and foreign exchange reserves.[1]
Commercial banking in the country is dominated by the "big five" banks: Standard Bank, FirstRand, Absa, Nedbank, and Investec. As of March 2020[update], they control nearly 90% of the sector's total assets.[3]
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