Standard Bank overtakes FirstRand to become Africa’s most valuable bank

2026-03-26 - 11:50

Standard Bank Group, Africa’s largest bank by assets, has overtaken FirstRand Group as the continent’s most valuable bank by market capitalisation. Market capitalisation is the total value of a company’s shares on the stock market. This shows how big or valuable the market thinks the company is. It is calculated by multiplying the share price by the total number of outstanding shares. For quite some time, FirstRand, parent company to First National Bank (FNB), Rand Merchant Bank, WesBank, and Ashburton Investments, has been the continent’s most valuable bank, but over the past few days, Standard Bank has taken this spot. One of the oldest banks Standard Bank was founded in 1862 and officially listed on the Johannesburg Stock Exchange (JSE) in 1969, but shares were first offered to the local public much earlier. The bank’s market capitalisation has been above R500 billion for a few days, but by midday Thursday, it was around R497 billion. Market capitalisation changes every minute because it is driven by a company’s share price, which fluctuates as investors buy and sell in response to new information, sentiment, and market conditions. The lender is the continent’s largest bank by assets, with around R3.6 trillion in assets. A bank’s total assets include everything it owns or controls that has economic value. This can include investments, property, and equipment, among others. Standard Bank v FirstRand By Thursday midday, FirstRand and Standard Bank were fighting for the number one spot of Africa’s most valuable bank. FNB’s parent company had a market capitalisation of at least R496 billion, making it the second most valued bank. A rising market cap often signals growing investor confidence and strong demand for shares, while a falling market cap can indicate declining confidence or performance concerns. The bank group’s CEO is Mary Vilakazi, making it the only top bank in the country with a woman at the helm. Capitec’s large customer case Capitec is one of the youngest banks, quickly making a name for itself. The Stellenbosch-based lender was founded in 2001 and listed on the JSE in 2002. Capitec once sat in the first spot as Africa’s most valued bank when its market capitalisation reached R424 billion in September 2025. However, on Thursday, it sat in the third spot, valued at around R492 billion. But when it comes to customers, Capitec shines the light, as it has the largest customer base. The bank serves approximately 25 million customers. Absa’s market capitalisation Absa, one of the continent’s big banks, has long been known for its leadership instability. The bank has had at least seven CEOs since 2019, with the latest appointment being Kenny Fihla, the former Deputy CEO of Standard Bank. It seems Fihla’s appointment has strengthened investor confidence, as the bank’s market capitalisation is R215 billion, making it the fourth most valued bank. In September 2025, its market capitalisation was approximately R172 billion.” The bank holds assets worth approximately R2.3 trillion.