Basic information
type and background: Capitec Bank is a publicly traded commercial bank that is part of Capitec Bank Holdings Limited. The bank was established on 1 March 2001 and listed on the Johannesburg Stock Exchange (JSE) on 18 February 2002. The headquarters is located in the Science and Technology Park in Stellenbosch, Western Cape, South Africa. Founders include Jannie Mouton, Michiel Le Roux, and Riaan Stassen.
Scope of Services
coverage: Capitec Bank's services mainly cover the whole of South Africa.
Offline outlets and ATMs: As of 2024, Capitec Bank has approximately 873 branches and nearly 3,000 owned ATMs nationwide. Some branches are open to 6 or even 8 p.m., and services are also available on weekends for customers to do business.
Regulatory & Compliance
regulator: Capitec Bank is regulated by the South African Reserve Bank and complies with the Banking Act of the relevant provisions.
Deposit Insurance: Starting in 2024, South Africa has launched the Corporation for Deposit Insurance scheme, which protects deposits of individual customers by up to R100,000 (US$5,267).
Compliance Record: Capitec Bank regularly discloses key indicators such as capital adequacy ratio and liquidity coverage ratio, which is in line with Basel Accord requirements and demonstrates a strong compliance posture.
Penalties: The SARB issued a media statement on 20 December 2024 announcing an administrative penalty of R56.25 million (R56.25 million) against Capitec Bank for failing to fully comply with customer due diligence, transaction monitoring and reporting obligations under the Financial Intelligence Centre Act (FIC Act).
financial health
capital adequacy ratio: As of February 2024, Capitec Bank has an ordinary equity tier 1 capital adequacy ratio (CET1) of 32.9% and a total capital adequacy ratio of 33.8%, well above the regulatory requirement of 12%.
Non-performing loan ratio: Capitec Bank's credit loss ratio was 87 basis points (0.87%) in FY2024, up from 70 basis points (0.7%) in 2023, but the bank plans to reduce it to 85 basis points (0.85%) in 2025.
Liquidity Coverage Ratio (LCR): As of February 2024, Capitec Bank has a liquidity coverage ratio of 2,366%, well exceeding the regulatory requirement of 100%, demonstrating strong liquidity management capabilities.
Deposit & Loan Products
Deposit products: Capitec Bank offers demand deposits, term deposits and tax-free savings accounts at competitive interest rates.
Loan products: Banks offer a variety of loan products such as personal loans, housing loans, car loans, etc., with interest rates and loan terms depending on the customer's credit profile and loan type. In addition, Capitec Bank offers flexible repayment options to meet the needs of different customers.
List of common fees
account management fees: Capitec Bank has low account management fees, with many customers charging less than R50 per month for their bank fees.
Transfer fees: Banks provide low-cost domestic transfer services, and cross-border transfer fees vary depending on the transaction.
ATM withdrawal fees: Withdrawals at your own ATM are usually free, and there may be a fee for using other banks' ATMs.
Other fees: The bank's fee structure is transparent, and customers can view detailed fee information through the official website or mobile app.
Digital Service Experience
mobile apps and online banking: Capitec Bank's mobile app and online banking platform are feature-rich, supporting account management, transfer payment, bill payment and other functions.
Technological innovation: Banks have introduced technologies such as AI customer service, robo-advisors, and open banking APIs to improve customer experience.
User Ratings: Capitec Bank's mobile app has received high ratings on both the App Store and Google Play, reflecting good user satisfaction.
Customer Service Quality
Service Channel: Capitec Bank offers 24/7 phone support, live chat, and social media response services to ensure customers can get help at all times.
Complaint Handling: The Bank is committed to quickly resolving customer complaints and improving user satisfaction.
Multi-language support: Capitec Bank offers services in multiple languages, making it easy for customers with different language backgrounds to use.
Security measures
security of funds: Customers' deposits are protected by the South African Deposit Insurance Scheme, and the bank also uses advanced anti-fraud technologies such as real-time transaction monitoring to ensure the safety of funds.
Data security: Capitec Bank takes the security of customer data seriously and has taken a number of measures to prevent data breaches.
Featured Services and Differentiation
market segment services: Banks provide customized services for different customer groups, such as student accounts, exclusive wealth management products for the elderly, and green financial products.
High Net Worth Services: Capitec Bank provides private banking services to provide customized financial solutions for high net worth clients.
Market Position & Accolades
Industry ranking: Capitec Bank is one of the largest retail banks in South Africa, with over 23 million customers.
Awards and honors: The bank has been named "Best Bank in the World" by Lafferty, an international banking advisory agency, and has won many honors such as "Best Digital Bank".
