Capitec Bank hits 13 million customers

Capitec Bank hits 13 million customers in South Africa

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South African retail bank Capitec Bank has hit 13 million clients in South Africa. According to Business Tech, the bank revealed that it is adding 200 000 new customers every month. In October, the bank welcomed its 13 millionth client.

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In a statement on Friday (8 November), Capitec CEO Gerrie Fourie was named 2019 Business Leader of the Year at the Sunday Times Top 100 Companies Awards on Thursday night, said that these statistics show that the bank is heading in the right direction and has no plans to rest on its laurels.

Gerrie said that the bank, which was established 19 years ago, is now the largest digital bank in South Africa, with more than 6.5 million digital clients. Six million of its clients also make use of their branch networks monthly.

He added that the recent acquisition of Mercantile Bank will further boost its offerings.

“Our acquisition of Mercantile is exciting, their emphasis on small to medium sized enterprises and entrepreneurs will fast track our entry into the business banking market,” he said,

“We believe there’s an opportunity to offer a business banking solution, which is based on the same fundamentals that made Capitec successful in the retail banking sector.

“It will bring new opportunities for both companies, for the Staff at Capitec and Mercantile and for Small Business Owners and Entrepreneurs. I look forward to building Capitec’s business banking offering with my teams using the firm foundation created by Mercantile”.

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