The most complained about banks in South Africa.
- Frederik Herholdt
- May 10, 2018
- 1 min read
The ombudsman for banking services OBS has published their annual report for 2017. The report shows how many complaints, related to the country's biggest retails banks, were put through to the ombuds office.
The report reflects that the number of complaints opened in 2017 went up significantly from 2016. 2016 Reflects a total of 5,219 of complaints compared to 2017's 7,056 complaints.
Considering the size of the banking market , it is not surprising that the bulk of all complaints were from the top 5 retail banks in South Africa
Standard Bank currently has the largest number of retail clients in the country, it also had the most complaints submitted to the ombud’s offices: A total of 1,669 complaints were directed to the ombud’s offices.
This was followed by FNB, Nedbank, Capitec and Absa.
African Bank was the only other notable bank to have quite a few complaints lodged, coming in with 156 complaints, while Bidvest and Investec were the only other banks to have a double-digit number of complaints.
Of the cases that were opened, 6,394 were closed in 2017.
Posted 10 May 2018 | Frederik Herholdt
Comments