South African banks rated strongest in the world

by Benice BurgerJune 27, 2017

The international banking advisory group, Lafferty, has rated South African banks as the strongest globally. Lafferty ranked 100 major banks in 32 countries for long-term stability and quality of service in the corporate and retail banking industry.

The group said independent downgrades that recently plunged South Africa into junk status haven’t affected the quality of the banks. The five South African banks in the study were Absa, Capitec, First Rand, Nedbank and Standard Bank.

This is the second year in a row that South African banks have achieved the highest ranking.

Source: https://www.enca.com/money/sa-banks-rated-strongest-globally

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Benice Burger