At the end of 2004, we find ourselves with a more mature banking sector, with a moderate level of private-sector indebtedness and a respectable and first-rate regulatory and legal framework. South African banks are well managed and utilise sophisticated risk-management systems and corporate-governance structures in conducting the business of a bank.
South Africa’s banks are regulated in accordance with the principles set by the Basel Committee on Banking Supervision. Consequently, our banks comply with international sound practice and offer a sophisticated banking system to the public. Customers have online, real-time, nationwide access to bank accounts 24 hours a day, everyday of the year.