SA’s most affordable bank rakes in profits, adds 902 000 clients in 6 months

Capitec Bank – South Africa’s cheapest, according to Solidarity’s Bank Charges Report – released results today which shows it is still gaining market share.

It reported a 25% increase in profits – adding 902 000 clients - for the first half of the year.

Capitec Bank now has 6.7 million clients of which about three million use it as their main bank.

According to Capitec Bank CEO Gerrie Fourie, they are adding up to 80 000 clients each month, many who are in middle- to high-income brackets.

Capitec Bank shares are up roughly 42% so far this year, despite the weakness of the All-Share index.

The Money Show’s Bruce Whitfield interviewed Capitec Bank CEO Gerrie Fourie.

Scroll down for quotes from the audio below.

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : SA’s most affordable bank rakes in profits, adds 902 000 clients in 6 months


Recommended

by NEWSROOM AI
Read More
3 risks to your retirement savings (and how to mitigate each of them)

3 risks to your retirement savings (and how to mitigate each of them)

Only 5% of South African retirement fund members will retire comfortably. Bruce Whitfield interviews advisor Warren Ingram.

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

FNB tops South African youth market, but Capitec Bank making huge inroads

FNB tops South African youth market, but Capitec Bank making huge inroads

FNB rules the roost, but only just. The future looks bright for Capitec Bank, which tops Absa, Standard Bank and Nedbank.

Capitec Bank is the best in South Africa by far, say customers. Here’s why…

Capitec Bank is the best in South Africa by far, say customers. Here’s why…

It’s South Africa's cheapest bank and offers great interest rates. It also has the best service of all, according to customers.

Capitec Bank is growing fast and earnings are booming

Capitec Bank is growing fast and earnings are booming

About 100 000 clients join each month and, as a result, earnings are booming. We interview CEO Gerrie Fourie…

Meet Jannie Mouton, the "Richard Branson of Stellenbosch"

Meet Jannie Mouton, the "Richard Branson of Stellenbosch"

The founder of PSG Financial Services and Capitec Bank is rocking the boat from Stellenbosch to the rest of Africa.

Popular articles
Motorist who killed two goslings has been identified

Motorist who killed two goslings has been identified

According to the SPCA, he will be charged with contravention of the Animal Protection Act.

3 risks to your retirement savings (and how to mitigate each of them)

3 risks to your retirement savings (and how to mitigate each of them)

Only 5% of South African retirement fund members will retire comfortably. Bruce Whitfield interviews advisor Warren Ingram.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

Group distances itself from N2 car spinners caught on film

Group distances itself from N2 car spinners caught on film

It turns out that the petrol heads who span cars on the N2 were part of the SA Torque Cape Town Breakfast Run.

Uber customer threatened with hockey stick by driver

Uber customer threatened with hockey stick by driver

An Uber customer shares how she was threatened by an Uber driver with a hockey stick after a disagreement.

Heads to roll for N2 car spinning frenzy

Heads to roll for N2 car spinning frenzy

WC Traffic Chief says there was no authorisation given for cars to be spun on a provincial road with the protection of officers.