South Africa’s largest banks are adjusting their branch strategies, increasing branch numbers and reducing physical space as digital banking rises. Between 2022 and 2023, Capitec, FNB, Nedbank and Standard Bank added branches, while Absa closed three. However, branch floor space decreased for Standard Bank (down 4%), FNB (down 10%) and Nedbank (down 18%). Additionally, major banks are introducing mobile branches for underserved or event-heavy areas and reducing ATM networks due to declining demand. Capitec leads this trend, expanding its ATM footprint to support cash-reliant customers in lower-income areas. These shifts reflect growing digital banking adoption and competition from digital-first banks like TymeBank and Discovery Bank.
