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

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 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
SA stole the World Cup… Low-cost Capitec Bank best on Earth… Rand at R13/$ soon…

SA stole the World Cup… Low-cost Capitec Bank best on Earth… Rand at R13/$ soon…

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

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

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

Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.

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.

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
[LISTEN] ANC Tshwane says it has documented proof of corruption in the metro

[LISTEN] ANC Tshwane says it has documented proof of corruption in the metro

The Tshwane ANC says it has evidence that Mayor Solly Msimanga is central to several irregular appointments in his administration.

Pieter-Dirk Uys gets serious about money (‘Evita is my pension!’)

Pieter-Dirk Uys gets serious about money (‘Evita is my pension!’)

The Money Show’s Bruce Whitfield interviews Uys about his attitude toward money (hopes and fears, successes and failures, etc.).

'Almost alcoholics' - the blurred lines between social drinking and alcoholism

'Almost alcoholics' - the blurred lines between social drinking and alcoholism

Sobriety advocate Janet Gourand explains the differences between the social drinker and an almost alcoholic.

[LISTEN] White callers debate privilege and response to apartheid

[LISTEN] White callers debate privilege and response to apartheid

Two white callers, Matt and Stephanie, disagreed on how white people should respond to apartheid as Eusebius McKaiser facilitated.

More than 30% of students go hungry

More than 30% of students go hungry

Dr Stephen Devereux says a large number of black students are more vulnerable than their white counterparts.

[WATCH] Safari that could have gone horribly wrong as buffalo charges vehicle

[WATCH] Safari that could have gone horribly wrong as buffalo charges vehicle

Khabazela shares some tweets, Facebook posts and videos that have gone viral.

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

Check out the videos, tweets, Facebook posts that have gone viral and why this kid cheered her dad on in the toilet.