Forecast: Number of Transferable Deposits Accounts Held by Banks in South Africa

The number of transferable deposit accounts held by banks in South Africa fluctuated over the past decade. In 2013, the value stood at 6.34 billion USD and showed various levels of decline and growth over the years, reaching 6.23 billion USD in 2023. Notably, the value experienced significant volatility between 2013 and 2016, with a marked decrease in 2015 followed by a substantial recovery in 2016. From 2017 to 2023, the trend has been relatively stable with a slight year-on-year decline, particularly from 2019 onwards. The last two years, 2022 and 2023, saw a minor decrease of 0.16% each year. The compound annual growth rate (CAGR) over the past five years was -0.096%.

• 2013: -11.94% YoY, 4.78% CAGR
• 2014: -1.26% YoY, -0.13% CAGR
• 2015: -15.97% YoY, -8.11% CAGR
• 2016: +25.48% YoY, -0.54% CAGR
• 2017: -5% YoY, -2.73% CAGR
• 2018: -0.16% YoY, -0.25% CAGR
• 2019: -0.16% YoY, -0.032% CAGR
• 2020: +0% YoY, 3.51% CAGR
• 2021: -0.16% YoY, -1.12% CAGR
• 2022: 0% YoY, -0.096% CAGR
• 2023: -0.16% YoY, -0.096% CAGR
• 2028: -0.06% forecast 5-year CAGR, -0.32% forecast 5-year growth rate

Moving forward, the forecasted values suggest a slight but steady decline through 2028, with an anticipated average annual reduction of 0.06%. Key trends to monitor include potential impacts from economic factors, regulatory changes in banking, technological advancements in financial services, and shifts in consumer behavior towards digital banking solutions.