Capitec Bank sold 1m funeral policies – from inside a branch - in 13 months
I made a bet with Ian Kirk [Sanlam CEO]; I said we’ll sell a million funeral policies in a year. It took 13 months. So, I was out!Gerrie Fourie, CEO - Capitec Bank
Regulatory approval [of the takeover of Mercantile Bank] is imminent… We’ll rebrand it to Capitec Business Banking…Gerrie Fourie, CEO - Capitec Bank
Capitec Bank has 12.6 million active clients, 1.2 million more than six months ago.
The bank made a profit of R2.9 billion (up 20%) in the half-year to 31 August 2019.
Capitec Bank will open 17 new branches over the next six months.
Listen to the interview in the audio below (and scroll down for more quotes from it.)
The branch function has changed completely… now, you do your transactions on a digital platform. We use the branch to sell products such as funeral policies… for us, a branch is still critical…Gerrie Fourie, CEO - Capitec Bank
We’ve got 6 million clients who only use branches… Of the 6.8 million who are digital, 4 million were in a branch in the past two months.Gerrie Fourie, CEO - Capitec Bank
Our transaction volumes have grown by 32% in the past six months…Gerrie Fourie, CEO - Capitec Bank
There are people who want to interact [in a branch] …Gerrie Fourie, CEO - Capitec Bank
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
This article first appeared on 702 : Capitec Bank sold 1m funeral policies – from inside a branch - in 13 months
Government's new energy plan has been announced as the country deals with load shedding caused by Eskom's low generating capacity.Read More
Photographer Johnny Miller discusses the impact of his moving work and how he captures his eye-opening images.Read More
Last month, Eskom shut down claims by the Democratic Alliance that load shedding was on the cards.Read More
Cape Town stadium will be leased to a municipal body that's subsidised by the city for R100 per annum.Read More
Sacca executive for corporate services Phindiwe Gwebu says the airline has given them an assurance that all issues are resolved.Read More
Handsfree pickpocketing is a myth, says consumer journalist Wendy Knowler. But risks remain, suggests a case she took on.Read More
The Money Show’s Bruce Whitfield interviews Toby Shapshak (Publisher at Stuff magazine) about the R1.5 billion investment.Read More
Personal finance expert Warren Ingram warns that divorce almost always destroys wealth. Here’s how to not lose your money.Read More
Sasmef president Tebogo Kaas calculates cost of rolling blackouts, while union's Mike Shingange says Eskom board must go.Read More
Bruce Whitfield interviews Basetsana Kumalo about her attitude to money (hopes and fears, successes and failures, etc.).Read More