Capitec Bank sold 1m funeral policies – from inside a branch - in 13 months
I made a bet with Ian Kirk [Sanlam CEO]; I said we’ll sell a million funeral policies in a year. It took 13 months. So, I was out!Gerrie Fourie, CEO - Capitec Bank
Regulatory approval [of the takeover of Mercantile Bank] is imminent… We’ll rebrand it to Capitec Business Banking…Gerrie Fourie, CEO - Capitec Bank
Capitec Bank has 12.6 million active clients, 1.2 million more than six months ago.
The bank made a profit of R2.9 billion (up 20%) in the half-year to 31 August 2019.
Capitec Bank will open 17 new branches over the next six months.
Listen to the interview in the audio below (and scroll down for more quotes from it.)
The branch function has changed completely… now, you do your transactions on a digital platform. We use the branch to sell products such as funeral policies… for us, a branch is still critical…Gerrie Fourie, CEO - Capitec Bank
We’ve got 6 million clients who only use branches… Of the 6.8 million who are digital, 4 million were in a branch in the past two months.Gerrie Fourie, CEO - Capitec Bank
Our transaction volumes have grown by 32% in the past six months…Gerrie Fourie, CEO - Capitec Bank
There are people who want to interact [in a branch] …Gerrie Fourie, CEO - Capitec Bank
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
The suspect could not be arrested a few weeks ago as he was in quarantine amid the COVID-19 pandemic.Read More
Labour and Employment Minister Thulas Nxesi said that the UIF had been able to identify 75 cases of suspicious transactions.Read More
Iain Williamson’s appointment ends over a year of uncertainty over who will lead one of the country’s biggest insurers following the abrupt dismissal of former CEO Peter Moyo in June 2019 after a conflict of interest dispute.Read More
Pavlo Phitidis tells more about a strategy that he has been using for years and how to apply this in a business.Read More
Personal financial adviser Warren Ingram says active fund managers in South Africa have had a terrible time.Read More
Association of Meat Importers and Exporters CEO Paul Matthew says there are mechanisms to deal with a possibility of dumpingRead More
DPE acting director-general Kgathatso Tlhakudi says there is hope ahead of talks with Numsa, Sacca and pilots association.Read More
Only freelance, contract or permanently employed journalists who have been retrenched or had their contracts cancelled since the implementation of the national lockdown will be eligible to apply.Read More
CEO says Stuart Forrest says Ireland is where the animation industry is booming and they have been doing a lot of work there.Read More