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 partnership ATMs across the country, with over 6.20 million customers. Of these customers, 309,000 are online banking customers and 3.50 million are mobile banking customers.

Based on annual results for FY2015, Capitec Bank has an asset base of more than R53.90 billion, of which equity is R11.60 billion, retail savings deposits are up 32% to R19.30 billion for the year and retail fixed deposits are up 19% to R10.70 billion. Earnings and overall earnings for FY2015 are R2.547 billion compared to R2.017 billion in 2014 and net transaction fee income is R2.60 billion.

The bank offers its clients a Global One account, which is 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 ranked as the best bank in the world by international banking advisory group Lafferty in its inaugural Bank Quality Rankings.

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 close-knit 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 providing low costs, giving customers the freedom to pay when transacting, and offering the highest deposit rates