Absa, FNB, Nedbank, Standard Bank and Capitec will dominate the banking industry for at least another decade, despite the entrance of three new banks, according to Kuben Naidoo, the deputy governor of the SA Reserve Bank.

There is a widely held belief that the entrance of Patrice Motsepe's TymeBank, Adrian Gore's Discovery Bank and Michael Jordaan's Bank Zero will shake up SA's banking industry and even make a dent in the dominance of the big five banking titans.

Granted, from a digital innovation and pricing of banking services perspective, the new banks are expected to be front-runners in a banking industry that has remained unchanged for decades.

More than 25 years since the internet opened to the public, the big five banks still distribute most of their banking products and services through brick-and-mortar branch networks. This is while the world is rapidly moving to digital banking and the Fourth Industrial Revolution, the favourite catchphrase of politicians lately.

In the next decade at least, SA's big five retail banks - Absa, FNB, Nedbank, Standard Bank, and Capitec - will still dominate and rule the banking roost.

This is according to Kuben Naidoo, the deputy governor of the SA Reserve Bank and...