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South African (JSE) Diversified Banks Industry Analysis

UpdatedMay 27, 2026
DataAggregated Company Financials
Companies4
  • 7D3.0%
  • 3M-6.1%
  • 1Y31.0%
  • YTDn/a

All of the companies in the Diversified Banks industry have been up over the last week, with the industry up 3.8%. This means that the industry has gained 32% over the past year. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the South African Diversified Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 27 May 2026R1.4tR385.0bR95.9b12.9x14.2x3.5x
Fri, 24 Apr 2026R1.3tR385.0bR95.9b13x13.9x3.5x
Sun, 22 Mar 2026R1.3tR381.9bR94.4b12.7x13.5x3.3x
Tue, 17 Feb 2026R1.4tR378.5bR100.5b10.3x14x3.7x
Thu, 15 Jan 2026R1.3tR378.5bR100.5b9.3x12.6x3.3x
Sat, 13 Dec 2025R1.2tR378.5bR100.5b9x12.1x3.2x
Mon, 10 Nov 2025R1.2tR378.5bR100.5b8.1x11.5x3x
Wed, 08 Oct 2025R1.1tR378.5bR100.5b7.8x10.7x2.8x
Fri, 05 Sep 2025R1.0tR374.9bR99.0b7.5x10.4x2.7x
Sun, 03 Aug 2025R1.0tR363.2bR95.8b7.8x10.9x2.9x
Tue, 01 Jul 2025R1.0tR363.2bR95.8b7.7x10.9x2.9x
Thu, 29 May 2025R1.0tR363.2bR95.8b7.9x10.9x2.9x
Sat, 26 Apr 2025R1.0tR363.2bR95.8b7.8x10.8x2.8x
Mon, 24 Mar 2025R1.0tR359.1bR94.4b8.1x11x2.9x
Wed, 19 Feb 2025R1.0tR348.4bR90.9b8.3x11.2x2.9x
Fri, 17 Jan 2025R997.3bR348.4bR90.9b8.2x11x2.9x
Sun, 15 Dec 2024R1.1tR348.7bR90.6b8.6x11.8x3.1x
Tue, 12 Nov 2024R1.1tR349.1bR90.6b8.8x11.6x3x
Thu, 10 Oct 2024R1.0tR349.6bR91.0b8.9x11.3x2.9x
Sat, 07 Sep 2024R994.2bR345.2bR89.2b8.8x11.1x2.9x
Mon, 05 Aug 2024R944.4bR339.9bR90.0b8.3x10.5x2.8x
Wed, 03 Jul 2024R912.3bR339.9bR90.0b7.8x10.1x2.7x
Fri, 31 May 2024R773.2bR339.9bR90.0b7x8.6x2.3x
Sun, 28 Apr 2024R766.9bR339.9bR90.0b6.8x8.5x2.3x
Tue, 26 Mar 2024R776.7bR337.9bR89.6b6.9x8.7x2.3x
Thu, 22 Feb 2024R838.5bR335.8bR86.3b7.3x9.7x2.5x
Sat, 20 Jan 2024R806.4bR335.8bR86.3b6.8x9.3x2.4x
Mon, 18 Dec 2023R795.0bR335.8bR86.3b6.6x9.2x2.4x
Wed, 15 Nov 2023R804.3bR335.8bR86.3b8x9.3x2.4x
Fri, 13 Oct 2023R769.3bR335.7bR86.4b7.4x8.9x2.3x
Sun, 10 Sep 2023R774.2bR334.6bR86.0b7.6x9x2.3x
Tue, 08 Aug 2023R783.0bR312.7bR79.3b7.4x9.9x2.5x
Thu, 06 Jul 2023R724.3bR312.7bR79.3b7.4x9.1x2.3x
Sat, 03 Jun 2023R643.6bR312.7bR79.3b6.9x8.1x2.1x
Price to Earnings Ratio

8.1x


Total Market Cap: R643.6bTotal Earnings: R79.3bTotal Revenue: R312.7bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Diversified Banks Industry Price to Earnings3Y Average 10.7x202420252026
Current Industry PE
  • Investors are optimistic on the South African Diversified Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.1x which is higher than its 3-year average PE of 10.7x.
  • The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 6.5% per year over the last three years.
  • Revenues for these companies have grown 7.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does South African Diversified Banks compare with similar industries?

ZA Market1.00%
Financials2.42%
Banks2.96%
Diversified Banks2.96%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CPI Capitec Bank HoldingsR4.49k3.6%
+R18.2b		29.9%PB8.7x
SBK Standard Bank GroupR321.282.6%
+R13.5b		38.7%PB1.8x
ABG Absa GroupR238.642.6%
+R5.0b		37.9%PB1.1x
NED Nedbank GroupR260.512.0%
+R2.3b		1.4%PB1x

Latest News

NED
R260.51
Nedbank Group
7D
2.0%
1Y
1.4%
Narrative Update • May 19

NED: Neutral Reinstatement And Guidance Will Frame A Cautious Forward Outlook

Analysts have kept their fair value estimate for Nedbank Group steady at ZAR275.00, citing only minor model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions following a recent Neutral rating update from the Street. Analyst Commentary Recent Street research, including a Neutral reinstatement from Goldman Sachs, has reinforced a cautious tone around Nedbank Group.
CPI
R4,489.28
Capitec Bank Holdings
7D
3.6%
1Y
29.9%
Narrative Update • May 17

CPI: Higher Margin And P/E Assumptions Will Sustain Overpriced Shares

Analysts have lifted their fair value estimate for Capitec Bank Holdings from ZAR3,417.99 to ZAR3,817.98, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. Valuation Changes Fair Value: Updated from ZAR3,417.99 to ZAR3,817.98, reflecting a higher central estimate of worth per share.
ABG
R238.64
Absa Group
7D
2.6%
1Y
37.9%
Narrative Update • Apr 28

ABG: Dividend Strength And Digital Remittances Will Support Future Upside Potential

Analysts have kept Absa Group's fair value estimate broadly unchanged at about ZAR273.25 per share, reflecting only marginal tweaks to assumptions such as the discount rate, revenue growth, profit margin and future P/E. What's in the News Declared a final ordinary dividend of ZAR8.50 per share for the financial period ended 31 December 2025, with the last day to trade cum dividend on 21 April 2026, ex-dividend date on 22 April 2026, record date on 24 April 2026, and payment on 28 April 2026 (Key Developments).
SBK
R321.28
Standard Bank Group
7D
2.6%
1Y
38.7%
Narrative Update • Apr 22

SBK: Future Dividend And Stable Earnings Will Underpin Fairly Valued Outlook

Analysts have adjusted their price target for Standard Bank Group slightly higher to ZAR337.10 from ZAR333.77, reflecting small refinements to fair value estimates, discount rate assumptions and the expected future P/E multiple. What's in the News The board has declared final gross cash dividend No. 112 of 878.00 cents per ordinary share to shareholders on the register at close of business on 17 April 2026 (company announcement).