The Banking Association of South Africa’s banks are still calculating how much cash was stolen from them during the recent riots.
According to BASA’s managing director Bongiwe Kunene, an estimate figure of R20-million is being worked on.
Kunene said no bank safes were looted.
More than 1,200 ATMs and nearly 270 bank branches were damaged or destroyed in the riots.
The average replacement cost of an ATM in South Africa is R385-thousand, which means it can cost R539-million just to replace the ATMs.
There are also additional installation costs.