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.”
12 Apr 2022 2PM English South Africa Business News · Investing

Other recent episodes

South Africa’s Solar Power Development on the Rise

Local independent power producer Mulilo today announced the financial close of what it calls one of the largest utility-scale solar developments in the country. The 380 MW Beaufort West Solar PV project will generate approximately 818 gigawatt-hours of clean electricity annually. Joining us with the details is Stuart Macwilliam, Mulilo…
20 Apr 4PM 15 min

SA Inflation Risks Are Rising

With CPI easing to 3% in February but global pressures mounting, Nedbank economist Isaac Matshego breaks down what to expect from this week’s inflation print, the resilience of household spending, and the outlook for borrowing costs in the second half of 2026.
20 Apr 4PM 8 min

Inside the JSE’s 2026 SME Acceleration Strategy

The JSE launched its 2026 Enterprise Acceleration Programme, welcoming 12 high‑potential SMEs and building on the success of previous cohorts. Vuyo Lee discusses the programme’s evolution and its impact on scaling founder‑led businesses.
20 Apr 4PM 8 min

Careers Corner: Fuel Shock Forces Rethink of Workplace Models

Rising fuel and energy costs are pushing companies to revisit remote and hybrid work. CDH’s Rashaad Dadoo outlines the legal obligations, fairness considerations, and compliance risks employers must manage as flexible work models re-enter strategic planning.
20 Apr 4PM 15 min

Wealth Creation: Why SA Investors Need Alternatives

With the JSE representing less than 1% of global investable markets, South Africans face concentration risk at home. Anchor Capital’s Darryl Hannington explores the rise of private equity, private debt, hedge funds, and offshore assets—and how alternatives can strengthen portfolios in an inflation‑driven world.
20 Apr 4PM 16 min