Capitec Bank added 648 000 clients in past 6 months (boosting earnings by 19%)

We’ve employed another 1000 people in the past six months.

Gerrie Fourie, Capitec Bank CEO

We have branches that are open until 10pm.

Gerrie Fourie, Capitec Bank CEO

70% to 80% of our new customers switched from another bank.

Gerrie Fourie, Capitec Bank CEO

Capitec Bank increased its active client numbers by 648 000 to a total of 7.9 million in the six months to the end of August.

This is the fastest rate of client acquisition in the company’s history.

The “Best Bank in the World”, according to international banking advisory group Lafferty, reported 19% growth in headline earnings to R1.75 billion.

A whopping 22.4% of banked South Africans now use Capitec Bank as their primary bank, according to a December 2015 AMPS survey.

Capitec Bank has the lowest fees in South Africa, according to the 2015 Solidarity Research Institute (SRI) Bank Charges Report.

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

Scroll down for more quotes from the audio below.

We’ve cut back on the risk we’re taking on loans in the last year.

Gerrie Fourie, Capitec Bank CEO

We don’t see the economy changing in the next 12, 18, 24 months.

Gerrie Fourie, Capitec Bank CEO

It takes us about 15 or 20 minutes to open an account.

Gerrie Fourie, Capitec Bank CEO

We’re bigger than Nedbank, if you look at the number of branches.

Gerrie Fourie, Capitec Bank CEO

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Article brought to us by Old Mutual.


This article first appeared on 702 : Capitec Bank added 648 000 clients in past 6 months (boosting earnings by 19%)


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