Capitec Bankis a South Africanretail bankandfinancial servicescompany.[2]As of February 2024 the bank was the largest retail bank in South Africa, based on number of customers, with 120,000 customers opening new accounts per month.[3][4]

Capitec Bank
Capitec Bank Holdings Limited
Company typePublic company
JSE:CPI
IndustryBanking
Financial services
Founded1 March 2001;23 years ago(2001-03-01)
FoundersJannie Mouton
Michiel Le Roux
Riaan Stassen
Headquarters5 Neutron Street, Techno Park,,
Area served
South Africa
Key people
Gerrie Fourie (CEO)
ProductsLoans,Investment Banking,Savings,Investments,Debit Cards,Credit Cards,Commercial Banking
Services
Revenue(2016)
Total assetsIncreaseR62.945 billion"PDF"(PDF).(866 KB)(2016)
Total equityIncreaseR13.659 billion"PDF"(PDF).(866 KB)(2016)
Number of employees
11,440[1](2016)
Websitewww.capitecbank.co.za

Overview

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The bank maintains 850 retail branches nationwide,[5]3418 own or partnership ATMs and has over 6.2 million customers, according to the 2015 Chief Financial Officer's Report.[6]Of these customers, 309 000 are online banking customers and 3.5 million are mobile banking customers.

According to the annual results for the 2015 financial year, the asset base of Capitec Bank was in excess of R53.9 billion, with R11.6 billion in equity, and with retail savings deposits increasing by 32 percent for the year to R19.3 billion and retail fixed savings increasing by 19 percent to R10.7 billion for the year.[6][7]Earnings and headline earnings for the 2015 financial year amounted to R2.547 billion compared to R2.017 billion in 2014, and net transaction fee income amounted to R2.6 billion.[8]

The bank offers its clients the Global One account, which is a transacting/savings account and credit facility rolled into one.[9]

When it comes to customer satisfaction as per the results by South African Customer Satisfaction Index (SAcsi) in 2015, Capitec Bank comes first with 82.2 points.[10]Capitec Bank[11]has emerged as the best bank in the world by International banking advisory group Lafferty in its inaugural Bank Quality Rankings.[12]

As of February 2017 "the majority, more than 5.5 million, of Capitec clients pay[ed] less than R50 per month in bank costs."[3]

Business model

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The bank operates as aretail bankthat serves both individuals and businesses. They also provide business banking for close corporations, companies, partnerships or trusts. It claims to focus on simplifying the banking experience, according to their literature.

Capitec's business model is focused on providing a value to its customer(s) by providing low costs, giving customers the freedom to pay as they transact, and by offering the highest interest rate on deposits.[3]

See also

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References

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  1. ^"About us".Capitec Bank.Retrieved16 October2017.
  2. ^"Capitec bank holdings - Google Finance Search".Google.Retrieved1 September2017.
  3. ^abc"Capitec is now the second biggest bank in South Africa".Business Day.2 February 2017.Retrieved4 February2017.
  4. ^https:// ewn.co.za/2024/04/25/capitec-profits-soar-with-22m-customers-its-now-sas-biggest-bank[bare URL]
  5. ^"Compare Banks in South Africa | Number of ATMs, Branches, and more".south-africa.financialadvisory.Retrieved31 January2021.
  6. ^ab"CFO Review 2015"(PDF).Capitec Bank. Archived fromthe original(PDF)on 6 March 2016.Retrieved18 October2015.
  7. ^le Roux, Kabous (24 March 2015)."Capitec Bank is growing fast and earnings are booming".702.Primedia.Retrieved18 October2015.
  8. ^"Capitec's 2014 FY earnings up 27%".Reuters.Thomson Reuters.24 March 2015.Retrieved18 October2015.
  9. ^"It's banking, just simpler".Capitec Bank.Retrieved31 August2017.
  10. ^"Best and worst banks in South Africa".businesstech.co.za.Retrieved17 March2016.
  11. ^"Capitec Phone & Contact Numbers".aubranches.Retrieved17 May2016.
  12. ^"South African bank ranked best in the world".businesstech.co.za.Retrieved17 March2016.
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