Capitec Bank

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,
Stellenbosch, Western Cape
,
South Africa
Area served
South Africa
Key people
Gerrie Fourie (CEO)
ProductsLoans, Investment Banking, Savings, Investments, Debit Cards, Credit Cards, Commercial Banking
Services
Revenue (2016)
Total assetsIncrease R62.945 billion "PDF" (PDF). (866 KB) (2016)
Total equityIncrease R13.659 billion "PDF" (PDF). (866 KB) (2016)
Number of employees
11,440[1] (2016)
Websitewww.capitecbank.co.za

Capitec Bank is a South African retail bank and financial services company.[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]

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 a retail bank that serves both individuals and businesses. They also provides 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. Retrieved 16 October 2017.
  2. ^ "Capitec bank holdings - Google Finance Search". Google.com. Retrieved 1 September 2017.
  3. ^ a b c "Capitec is now the second biggest bank in South Africa". Business Day. 2 February 2017. Retrieved 4 February 2017.
  4. ^ https://www.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.com. Retrieved 31 January 2021.
  6. ^ a b "CFO Review 2015" (PDF). Capitec Bank. Archived from the original (PDF) on 6 March 2016. Retrieved 18 October 2015.
  7. ^ le Roux, Kabous (24 March 2015). "Capitec Bank is growing fast and earnings are booming". 702. Primedia. Retrieved 18 October 2015.
  8. ^ "Capitec's 2014 FY earnings up 27%". Reuters. Thomson Reuters. 24 March 2015. Retrieved 18 October 2015.
  9. ^ "It's banking, just simpler". Capitec Bank. Retrieved 31 August 2017.
  10. ^ "Best and worst banks in South Africa". businesstech.co.za. Retrieved 17 March 2016.
  11. ^ "Capitec Phone & Contact Numbers". aubranches.com. Retrieved 17 May 2016.
  12. ^ "South African bank ranked best in the world". businesstech.co.za. Retrieved 17 March 2016.
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