Capitec Bank Is A South African Retail Banking And Financial Services Company. As Of February 2024, The Bank Is The Largest Retail Bank In South Africa (by Number Of Customers), With 120,000 Customers Opening New Accounts Each Month.
Overview
According To The 2015 CFO Report, The Bank Has 850 Retail Branches, 3,418 Owned Or Partnered ATMs Across The Country, With Over 6.20 Million Customers. Of These Customers, 309,000 Are Online Banking Customers And 3.50 Million Mobile Banking Customers.
Based On Annual Results For FY2015, Capitec Bank's Asset Base Exceeded R53.90 Billion, With Equity Of R11.60 Billion, Retail Savings Deposits Up 32% Year-on-year To R19.30 Billion And Retail Fixed Savings Up 19% Year-on-year To R10.70 Billion. Earnings And Overall Earnings For FY2015 Were R2.547 Billion Compared To R2.017 Billion In 2014 And Net Transaction Fee Income Was R2.60 Billion.
The Bank Offers Its Clients Global One Accounts, A Trading/savings Account And Credit Facility In One.
According To The Results Of The South African Customer Satisfaction Index (SAcsi) 2015, Capitec Bank Is Ranked First In Terms Of Customer Satisfaction With A Score Of 82.2. Capitec Bank Has Been Named The Best Bank In The World In The Inaugural Bank Quality Ranking By Lafferty, An International Banking Advisory Group.
As Of February 2017, "the Majority (over 5.50 Million) Of Capitec Customers Pay Less Than R50 Per Month In Banking Fees.
Business Model
The Bank Is A Retail Bank Serving Individuals And Businesses. The Bank Also Provides Commercial Banking For Closed Companies, Corporations, Partnerships Or Trusts. According To Their Literature, It Claims To Be Focused On Simplifying The Banking Experience.
Capitec's Business Model Focuses On Delivering Value To Customers By Offering Low Costs, Allowing Customers To Pay Freely At The Time Of Transactions, And Offering The Highest Deposit Rates
