ASSOCIATION AND INDUSTRY OVERVIEW
The Banking Association South Africa is the mandated representative of the banking sector and addresses industry issues through:
- Lobbying and advocacy
- Policy influence
- Guiding transformation in the sector
- Acting as a catalyst for constructive and sustainable change in the sector
- Engagement with critical stakeholders
The role of The Banking Association is to facilitate the enablement of a conducive banking environment through robust engagement with government and relevant stakeholders. A critical role of The Banking Association is to work with its members to enable this role within the context of the transformation challenges prevailing in South Africa.
The Banking Association South Africa manages numerous committees that advise The Banking Association executive on issues pertinent to the sector. The executive of The Banking Association also leverages off the capacity of members of these committees, so as to bring the optimal resources to bear on pertinent issues.
In addition to the committees, The Banking Association South Africa oversees several business forums, task groups and sub-committees, which are interim structures put in place to assist the committees in resolving a particular matter/issue at a given time.
We are the only African Banking Association that is a member of the International Banking Federation (IBFed).
We are the only African Banking Association to contribute to the International Institute of Bankers Global Survey of Regulatory and Market Developments.
We lead engagement on behalf of the sector, on critical legislative and regulatory issues, including:
- National Credit Act
- Companies Act
- Consumer Protection Act
- Home Loans Mortgage Disclosure Act
- Various matters in Human Settlements
- Various matters in Sustainability and Energy areas
SA Banking Sector Overview
South Africa has a well developed and proactively regulated banking system which compares favourably with those of industrialised countries. The South African banking sector has, as a result, attracted a lot of interest from abroad with a number of foreign banks establishing offices in the country and others acquiring stakes in major South African banks.
According to the 2015/2016 World Economic Forum Global Competitiveness Survey South Africa is ranked 8th in Financial Sector Development, out of 140 countries.
The South African banking sector, despite being a concentrated sector,
is still very competitive and continues to diversify its products and
broaden its services within the context of international best practice.
Currently the South African banking sector is comprised of 17 registered banks, two mutual banks, 14 local branches of foreign banks, two co-operative banks and 43 foreign banks with approved local representative offices.
Composition of The Banking Association South Africa
The Banking Association South Africa is an industry body representing all banks registered and operating in South Africa. Currently, The Banking Association has 32 member banks which include both South African and International banks. All licenced banks are members of The Banking Association. The Board of Directors comprises the Chief Executives of the five largest banks, two Chief Executives from international banks, two Chief Executives from the smaller South African banks and the Managing Director. There is also a Board Executive Committee comprising, according to the same formula, of senior representatives reporting to the Chief Executives. The Banking Association consists of five divisions, namely:
- Managing Director’s Office
- Strategy, Media and Communication and Stakeholder Management
- Financial Inclusion
- Market Conduct
- Shared Services