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SA’s five largest banks collectively hold 89.79% of the total assets of the 31 regulated lenders overseen by the Prudential Authority (PA), the division of the Reserve Bank that regulates the financial services industry.

That’s according to the PA’s 2021/2022 annual report, which was released on Monday and showed total banking sector assets grew 5.61% year on year to R6.82-trillion as at end-March 2022 driven largely by higher loan advances, holdings of investment securities such as government bonds and short-term negotiable instruments. The local branches of the 13 international banks operating in SA accounted for 5.97% of sector assets while other locally registered lenders represented just 4.24% of the sector’s assets...

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