ShapeShifter, Evergreen Content

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

I discovered at Boland Bank that banking was very archaic.

Michiel le Roux, Capitec Bank

I told our shareholders we’ll either be a big success or a small failure. Not in my wildest dreams could I foresee the success we’ve had.

Michiel le Roux, Capitec Bank

We were very fortunate. I’m not sure we could’ve created a Capitec Bank in other countries.

Michiel le Roux, Capitec Bank

The Money Show's Bruce Whitfield interviewed Michiel le Roux, founder of Capitec Bank, for his weekly "ShapeShifter" feature.

Capitec Bank is the best bank in the world, according to international banking advisory group Lafferty.

It is also the cheapest bank in South Africa, according to the 2015 Solidarity Research Institute (SRI) Bank Charges Report.

If you invested R100 in Capitec Bank shares on 1 July 2011 they would’ve been worth R320 today.

Forbes estimates Michiel le Roux’s net worth at more than R4 billion.

Michiel le Roux obtained BCom Law and LLB degrees from the University of Stellenbosch.

Scroll down for quotes from the video and audio below.

It’s at Boland Bank that I first asked ‘Why do banks close at 3.30pm?’ It was a mystery to me!

Michiel le Roux, Capitec Bank

Most of the people who started Capitec Bank with me came from Distillers and Stellenbosch Farmers' Winery.

Michiel le Roux, Capitec Bank

I studied law, but never practiced. Real law is very boring!

Michiel le Roux, Capitec Bank

I’ve never spoken real business at a party. My wife would object!

Michiel le Roux, Capitec Bank

Every five years there’s a major crisis. You’ve got to plan for it.

Michiel le Roux, Capitec Bank

I originally had a very basic bank in mind.

Michiel le Roux, Capitec Bank

Older banks have legacy systems that are difficult to replace or keep alive.

Michiel le Roux, Capitec Bank

Our customer acquisition is amazing.

Michiel le Roux, Capitec Bank

I believe in the bank, so I’m a shareholder.

Michiel le Roux, Capitec Bank

We’ll keep it simple. In 10 years it’ll still be recognisable as the bank you see today.

Michiel le Roux, Capitec Bank

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
Buying Barclays… junk status and the rand… Capitec Bank in hot water… (and more)

Buying Barclays… junk status and the rand… Capitec Bank in hot water… (and more)

7 most read, most talked about business articles of the past week.

Consumer watchdog to take Capitec Bank to court over lending practices

Consumer watchdog to take Capitec Bank to court over lending practices

Ray White interviews Clark Gardner, the consumer champion who last year exposed Lewis Group’s unlawful credit practices.

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…

Popular articles
CR17: 'Face the nation! Tell us what happened! End this PR disaster'

CR17: 'Face the nation! Tell us what happened! End this PR disaster'

There was nothing illegal, yet the CR17 leaks is a PR disaster for Cyril Ramaphosa, says communications consultant Chris Vick.

Trevor Noah – 4th highest paid comedian on Earth – made R430 million in 2018

Trevor Noah – 4th highest paid comedian on Earth – made R430 million in 2018

Trevor Noah cracked Forbes magazine’s list of highest-paid stand-up comedians in the world.

Want to get rich? Got R100? You don’t need millions to start

Want to get rich? Got R100? You don’t need millions to start

Bruce Whitfield interviews Anthea Gardner, author of "Make Your Money Work for You: Think Big, Start Small".

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

Former EFF MP: 'I didn't know where the money came from until it was leaked'

Former EFF MP: 'I didn't know where the money came from until it was leaked'

EFF member Tebogo Mokwele and Small Business Development Minister Khumbudzo Ntshavheni respond to leaked CR17 bank statements.

Benguela Global Fund Managers is buying Naspers, Standard Bank and Pick n Pay

Benguela Global Fund Managers is buying Naspers, Standard Bank and Pick n Pay

Zwelakhe Mnguni (CIO at Benguela Global Fund Managers) shares his stock picks of the week: Naspers, Standard Bank and Pick n Pay.

'Debt relief law may cause banks to stop lending to lower-income clients'

'Debt relief law may cause banks to stop lending to lower-income clients'

The Money Show’s Bruce Whitfield interviews Cas Coovadia, Managing Director at the Banking Association of South Africa.

[WATCH] Father and daughter dance-off changes tune when she starts twerking

[WATCH] Father and daughter dance-off changes tune when she starts twerking

Khabazela shares tweets and Facebook posts that have gone viral.