Capitec’s client-centricity sees an 84% increase in group headline earnings The bank’s results exceed expectations despi
Loading player...
South Africa, 12 April: Capitec has been driven by the same vision since its inception. To be the bank that provides everyone with access to simple, affordable and personalised banking and allows them to live better. This unwavering focus on doing what is right for their clients has yielded 84% growth in group headline earnings to R8.4 billion for the 2022 financial year. This represents a compound annual growth rate of 23% since 2012.
Named the strongest brand in SA in the Brand Finance 2022 ranking, the bank increased its active client base by 14% to 18.1 million, which translates to nearly 190 000 new clients per month. Active digital banking clients (app, internet banking and USSD) grew by 17% to 10.1 million, of which 6.6 million clients use the banking app, up 25% since 2021. Despite the challenges presented by COVID-19, several hard lockdowns and the civil unrest in KwaZulu-Natal and Gauteng, Capitec’s accessible product offering continues to resonate with all South Africans. Mercantile Bank, a division of Capitec, also reported a growing client base with its total active business clients increasing by 10% to 125 270.
Gerrie Fourie, Capitec Chief Executive Officer, says, “During the past year, our agility and focus made it easy for the bank to quickly adapt to the new reality. We viewed the challenge as an opportunity to assist our clients and make banking uncomplicated and accessible to all. Capitec’s digital solutions have been crucial in enabling this growth. In addition, our staff have been instrumental in this adoption and have excelled in this new, hybrid, digital world.”
Named the strongest brand in SA in the Brand Finance 2022 ranking, the bank increased its active client base by 14% to 18.1 million, which translates to nearly 190 000 new clients per month. Active digital banking clients (app, internet banking and USSD) grew by 17% to 10.1 million, of which 6.6 million clients use the banking app, up 25% since 2021. Despite the challenges presented by COVID-19, several hard lockdowns and the civil unrest in KwaZulu-Natal and Gauteng, Capitec’s accessible product offering continues to resonate with all South Africans. Mercantile Bank, a division of Capitec, also reported a growing client base with its total active business clients increasing by 10% to 125 270.
Gerrie Fourie, Capitec Chief Executive Officer, says, “During the past year, our agility and focus made it easy for the bank to quickly adapt to the new reality. We viewed the challenge as an opportunity to assist our clients and make banking uncomplicated and accessible to all. Capitec’s digital solutions have been crucial in enabling this growth. In addition, our staff have been instrumental in this adoption and have excelled in this new, hybrid, digital world.”
