South Africa's ******************* was the largest bank in Africa as of 2024, with total assets worth nearly *** billion U.S. dollars. Operating in 20 countries on the continent, the bank group also led the African banking sector by tier 1 capital. Ranking as the second-biggest bank in Africa, the National Bank of Egypt accumulated an asset value of around *** billion U.S. dollars in 2021. Overall, South Africa concentrated four out of the top 10 institutions with the largest assets in Africa. Main banking markets As of 2021, the total assets of the banking sector in Sub-Saharan Africa corresponded to **** percent of the region's GDP. The ratio, which offers an insight into the relationship between services provided by banks and the economy' size, increased substantially compared to previous years. Among countries, South Africa dominates the African banking industry with financial assets worth around *** billion U.S. dollars in 2021. Additionally, the aggregate tier 1 capital of major South African banks reached roughly **** billion U.S. dollars in 2022. North African nations, such as Egypt and Morocco, follow as main players in Africa’s banking sector. Financial inclusion has improved in Africa Around **** out of 10 Africans had a bank account in 2023, according to Statista forecasts. The banking penetration rate on the continent almost doubled compared to 2013 and might keep increasing in the coming years. By 2025, the share of people with a bank account is expected to reach ** percent. Among financial institutions, the Standard Bank Group and the National Bank of Egypt counted the highest number of customers in Africa, each with around ** million clients in 2020.

Standard Bank Group was the leading banking service provider in South Africa in terms of assets. In 2023, the assets owned by the bank were around 169.9 billion U.S. dollars. FirstRand and Absa Bank followed, with assets of around 93.4 billion and 87.1 billion U.S. dollars, respectively.

As of 2024, the National Bank of Egypt was the largest financial institution in Africa in terms of customer base, as it reached some ** million. Standard Bank Group followed, with **** million customers. The South African institutions ABSA Group, FirstRand, and NedBank Group came next, in that order.

The South African banking sector is dominated by five major banks, Absa, Investec, Nedbank, FirstRand, and Standard Bank Group. As of March 2023, almost 90 percent of the country's banking assets were held by those banks. Furthermore, local branches of foreign banks had just over six percent of the banking sector's total assets.

As of December 2022, Standard Bank of South Africa, the largest financial institution in Africa in terms of assets, had 10 million clients in the country. Furthermore, Capitec bank had the largest number of customers in South Africa, reaching 19 million as of August 2022. However, the bank only held 2.7 percent of the share of the total deposits in 2021.

In 2023, the Qatar National Bank (QNB) had the highest value of assets of banks in the Middle East and Africa region. Most of the banks with the highest volume of assets in their balance sheet had their headquarters in the Gulf Cooperation Council (GCC), Israel, and South Africa. However, there were also entries in the ranking from banks from Egypt and Turkey.

The Middle-East and Africa Banking As A Service Market Report is Segmented by Type (API-Based BaaS, Cloud Based BaaS), by Service Type (payment Process Services, Digital Banking Services, KYC Service, Customer Support Services, Others), by Enterprise Size (SMEs, Large Enterprises), and by Region (South Africa, GCC, Egypt, Rest of Middle-East and Africa).

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Community Banking Market Size 2025-2029

The community banking market size is forecast to increase by USD 253 billion at a CAGR of 5.8% between 2024 and 2029.

The market is experiencing significant shifts driven by the increasing adoption of microlending in developing nations and the rising preference for digital platforms. The microlending, a segment of community banking, is gaining traction in developing economies due to its ability to provide small loans to individuals and small businesses who lack access to traditional banking services. This trend is expected to continue, fueled by the growing financial inclusion efforts and increasing economic activity in these regions. Simultaneously, the community banking sector is witnessing a surge in the adoption of digital platforms.
The digital community banking services, such as mobile banking and online lending, are becoming increasingly popular due to their convenience and accessibility. This trend is particularly noticeable among younger demographics, who are more likely to use digital channels for banking. However, the market also faces challenges. One of the most significant obstacles is the lack of awareness about community banking services. Many potential customers, particularly in rural and underserved areas, are unaware of the benefits and availability of community banking services. Addressing this challenge will require targeted marketing efforts and community outreach programs.

What will be the Size of the Community Banking Market during the forecast period?

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The market continues to evolve, with advanced technology playing a pivotal role in shaping the landscape. Financial institutions, both large and small, are integrating microfinance, mobile banking, and remote deposit capture to cater to diverse customer needs. In the micropolitan areas, community banks have gained prominence, offering personalized services to rural and agricultural sectors. The economic recession led to a surge in digital adoption, with mobile banking becoming increasingly popular. However, the competition remains fierce, with big banks also investing heavily in technology to retain their customer base. The ongoing market dynamics underscore the need for continuous innovation and adaptation to stay competitive.
Community banks, with their focus on local markets and relationships, are well-positioned to leverage these trends and offer competitive rates and fees to attract and retain customers. The integration of advanced technology enables seamless transactions and enhanced customer experience, further bolstering their position in the market. The future of community banking lies in its ability to balance tradition and innovation, offering personalized services while embracing digital transformation.

How is this Community Banking Industry segmented?

The community banking industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Area

  Metropolitan
  Rural and micropolitan


Sector

  Small business
  CRE
  Agriculture


Service Type

  Retail banking
  Commercial banking
  Wealth management and financial advisory
  Others


Delivery Model

  Branch Banking
  Online Banking
  Mobile Banking


Institution Type

  Credit Unions
  Local Banks


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Area Insights

The metropolitan segment is estimated to witness significant growth during the forecast period.

In the dynamic world of financial services, community banks in the US continue to gain traction among consumers, particularly in rural and micropolitan areas where Big Banks may have a limited presence. While Big Banks dominate the market with their vast resources and broad reach, Community FIs cater to the unique needs of their local clientele. With the rise of advanced technology, Community banks have embraced digital banking solutions, including Internet banking, mobile banking, and remote deposit capture. Small businesses and agricultural sectors, integral to rural economies, benefit significantly from Community banks' personalized services and expertise. Despite the economic recession, these institutions have managed to maintain deposits through their strong relationships with customers.

Microlending, a niche offering, further distinguishes Community banks from their larger counterparts. Rates and fees remain crucial factors for customers, especially in a competitive market. Community banks often offer more competitive rates and lower fees compared to Big Banks, maki

South Africa - SADC-RTGS, large-value Payment systems, Direct participants, Banks

Standard Bank Group was the leading banking service provider in South Africa in terms of its tier 1 capital. In 2023, their capital was over 13.2 billion U.S. dollars. Nedbank and FirstRand followed, with capital of around 5.93 billion and 5.46 billion U.S dollars.

As of 2021, the leading South African bank Standard Bank concentrated 22.5 percent of the total value of all bank's deposits. Meanwhile, FirstRand ranked second for the same period, with deposits representing 21.5 percent of deposits reported that year.

South Africa - SAMOS, large-value & retail Payment systems, Direct participants, Banks

Standard Bank Group was the leading banking service provider in South Africa in terms of profit. In 2023, the profit generated amounted to around 2.32 billion U.S. dollars. FirstRand and Nedbank followed, with profits of almost 1.58 billion and 908 million U.S. dollars, respectively.

Some of the recent competitor trends and key information about competitors include: The South Africa auto finance market is moderately consolidated, with a few dominant players led by major commercial banks and captive finance entities. However, the growing presence of non-banking financial companies (NBFCs) and digital lending platforms is gradually reshaping the competitive dynamics, especially in underserved and informal segments. Key players includeWesBank, Standard Bank Vehicle and Asset Finance, Absa Vehicle Finance, MFC (Nedbank Division), Toyota Financial Services, andSA Taxi Finance. Competitive Landscape in South Africa Auto Finance Market

South Africa - Number of All participants, SADC-RTGS, Payment systems, large-value

South Africa - Number of All participants, SAMOS, Payment systems, large-value & retail

South Africa - Value of Payment transactions, SAMOS, Payment systems, large-value & retail

South Africa holds an outstanding role in the African banking industry. As of 2022, the aggregate tier 1 capital from the major South African banks reached 42.2 billion U.S. dollars. The South African Standard Bank Group had alone a capital worth roughly 11.7 billion U.S. dollars, ranking as the leading bank in the continent. Egypt, Morocco, Nigeria, and Kenya followed in terms of aggregate tier 1 capital, composing the main banking markets in Africa.

Population in the largest city (% of urban population) in South Africa was reported at 14.26 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Africa - Population in the largest city - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

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Open Banking Market Size 2024-2028

The open banking market size is forecast to increase by USD 57.66 billion at a CAGR of 27.2% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for advanced Financial Management Tools that offer real-time access to Financial Data from multiple Financial Institutions. Open Banking Solutions, which utilize Open Banking APIs, enable automated savings, real-time transactions, and enhanced security features. The integration of Artificial Intelligence (AI) into these services further streamlines financial management and enhances personalized customer experiences. However, the handling of sensitive personal financial data necessitates strict adherence to guidelines and regulations to ensure data security and privacy. Key market trends include the growing preference for faster and more seamless payment processing, increased focus on data security, and the potential for increased competition among Financial Institutions as they adapt to the Open Banking landscape.

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Open banking, a financial services model that enables third-party providers to access customers' financial data through APIs, is revolutionizing the payment ecosystem. This innovative approach allows for more customer-centric services, personalized financial offerings, and informed financial decisions. Broadband connectivity plays a crucial role in the open banking landscape, ensuring seamless access to real-time data for machine learning algorithms and AI applications. These technologies are integral to the open banking model, as they enable advanced data analytics and the development of innovative financial services. Security is a top priority in the market. Financial institutions are investing heavily in advanced security measures to protect sensitive customer data from online fraud. AI and machine learning algorithms are being employed to detect and prevent fraudulent activities in real-time. E-commerce and open banking are natural partners, with the former benefiting from the real-time financial data access provided by the latter.

Further, open banking APIs are the backbone of this new financial services model, allowing for seamless integration between financial institutions and third-party service providers. These APIs enable the sharing of financial data in a secure and standardized manner, facilitating the development of innovative financial services. Personalized financial services are a key benefit of open banking. By leveraging big data analytics and AI, financial institutions can offer customized offerings tailored to individual customers' financial needs and preferences. In conclusion, open banking is transforming the payment ecosystem by enabling real-time data access, advanced data analytics, and the development of innovative financial services. With a focus on security and customer-centricity, this model is poised to disrupt traditional financial services and reshape the industry landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Service

  Banking and capital markets
  Payments
  Digital currencies


Deployment

  On premise
  Cloud


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Service Insights

The banking and capital markets segment is estimated to witness significant growth during the forecast period. The market is revolutionizing the banking and financial services sector in the global payment ecosystem. Through strategic collaborations and innovative service offerings, Open Banking is enhancing payment processes, expanding investment accessibility, and promoting financial inclusion. In June 2024, Euronet, a leading financial technology and payments provider, partnered with Fintech Galaxy to introduce a new Banking as a Service (BaaS) offering. This collaboration aims to deliver faster, more secure, and cost-effective account-based transactions for banks, fintechs, and merchants. Key features of this service include card as a service, real-time payment processing, and advanced fraud detection. By integrating with consumer bank accounts, this solution reduces transaction costs and promotes financial inclusion, while also driving the adoption of digital transactions in the European region.

The integration of Artificial Intelligence (AI) and Machine Learning (ML) in Open Banking is further fueling the growth of the market. Big data analytics is enabling financial institutions to gain valuable insights into customer behavior and preferences, leading to personalized services and improved customer experience. The use of Open Banking is