Namibia Banking Industry Overview (Oct 2022)

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Filename Namibian-Banking-Industry-October-2022.pdf
Filesize 198.26 KB
Version paid report
Date added October 10, 2022
Category Financial Institution, Industry Reports
Tags Namibia

As of 31 December 2021, the number of licensed commercial banks remained at seven, with one branch of a foreign bank and one representative office. The banking sector is comparatively small and highly concentrated with four large banks, of which three are subsidiaries of South African banks[1] and one is locally owned[2] . The four large banks are designated as domestic systemically important banks (“DSIBs”) by the BON and hold the largest share of the sector’s asset base. The sector’s branch network decreased in 2021, as the number of branches contracted to 137 (2020: 145) at the end of 2021, following a preference for digital channels and the need to cut costs.

[1] First National Bank Namibia Limited, Standard Bank Namibia Limited, and Nedbank Namibia Limited.

[2] Bank Windhoek Limited.