In his last Q&A session for the year in Parliament on Wednesday, he said the banks' decision needed to be investigated as "it does not look innocent."
702's Stephen Grootes spoke to political analyst, Ralph Mathekga, in an attempt to make sense of the matter.
The Gupta family has been at the center of state capture allegations due to their close business and personal relationship with Zuma.
He is defending the Gupta family and this is contrast to a position that has been taken by another member of his cabinet, that is Pravin Gordhan.— Ralph Mathekga, political analyst
Mathekga said he suspects that Zuma's comments forms part of a strategy that will see him challenge the State of Capture Report as well as the banks in court.
It goes beyond just defending the Guptas. I get an indication of a strategy how they will take the decision to court.— Raplh Mathekga, political analyst
Listen to the interview below: