THE AFRICA TIMES | SOUTH AFRICA — South Africa’s largest banks are undergoing a significant transformation in their cash networks as customer preferences shift towards digital banking. Notably, three of the country’s five largest lenders have reduced their ATM footprints since 2023, while Capitec has adopted a divergent strategy by expanding aggressively.
Specifically, Nedbank has decreased its ATM network by 4.4%, bringing its total to 4,014 machines. Absa’s network has contracted by 2.7% to a total of 6,240 ATMs, while FNB’s footprint has experienced a slight decline of 0.3%, resulting in 4,775 machines. In contrast, Standard Bank has increased its ATM count by 1.3% to reach 3,496. Capitec stands out with an 11.4% expansion of its cash-device network, now
