Capitec has reached a milestone of 20 million customers, exceeding that of much older banks such as Standard Bank or FNB.It says this milestone is only the start of what's to come.In just 22 years of its existence, SA's biggest digital banker Capitec has surpassed the number of customers of its 185-year-old rival FNB, or 160-year-old Standard Bank.
Capitec, which turned 22 on 1 March, has reached a 20-million client milestone. It officially has more clients than the populations of either the Netherlands, Zimbabwe or Senegal. "We are incredibly grateful for the trust that over 20 million clients have placed in us. We have spent years trying to meet and exceed our clients' needs at every step of their financial journey. At Capitec, it's about the client," said Capitec CEO Gerrie Fourie.
In those 22 years, Capitec's share price moved from less than R1 to more than R1 600. It climbed as high as R2 273.48 on 4 April 2022. Capitec has looked to shake up how banks operate, opening its branches till much later in the day and servicing customers on weekends too. It later switched from a primarily in-branch service bank to offer more of its services on a mobile app, including loan applications, which it processes in real time.
But the bank grew much more rapidly in the past four years. It took six years to double its clients from 5 million in 2013 to 10 million in 2019. But from 2019 to March 2023, it added another 10 million people. Over those years, the bank also rapidly expanded to new areas like student loans, home loans, vehicle loans and business banking. It
_Business Those people just love long ques, while their bank charges are almost similar to other banks. People must start reading on other bank charges, Capitec is not cheap anymore
_Business Well waiting time in capitec is less then 10 minutes
_Business No I understand why they have long qs outside their banks and atms
_Business Standard bank has shares in Capitec. teamwork
_Business Reaching 20 million customers with each having a R5 deposit……congratulations
_Business Rubbish nonsese bank
_Business But still with two ATMs the whole country.😂😏🙄🤷capitecbank
NhlanhlaKumalo3 _Business It’s still not cheap though.
_Business Not consistently good in service.
_Business This 20 Million I'm sure it's not clients who's salaries are paid into Capitec, it's everybody who has an account, I'm sure even the CEO's of the other 4 Banks have a Capitec account. But honestly Capitec is not as cheap as it looks - its expensive. Angime lapho
_Business Well done.
_Business How resilient are our banks though considering what is happening to banks in California that could spread globally and start '2008' all over again. Some say interest rates were raised too quickly causing drama on stock exchanges. Dawie Roodt, what do you think?
_Business And its R62 billion in assets, it holds more value in US DOLLARS than the entire banking system of Zimbabwe with USD 2.5 billion
_Business In South Africa majority of people working have their salary deposited in either Absa, FNB, Std and they have Capitec for daily use
_Business Shows the amount of poor people in this country, as that is where poor people bank
_Business Bathong! Capitec bank has 22 years already
Andza09 _Business So why can't they build more ATM's?
_Business With poor service
_Business Capitec punishes its clients when they victims of fraud by charging the fees to reverse wrong debit order or illegal purchases. Also no OTP for new debit orders.
_Business It's all through lies.... CapitecBankSA pretended to be black owned yet they were not and to top it up they are Our_DA biggest funders
_Business i will always be thankful to God for giving me a reliable source no more lost,. through Brandonkaren11 Bitcoin mining investment platform
_Business It's not about quality but quality. Average customer of standard bank equal 10 Average customers of capitec
TimModise _Business But are they quality customers?
_Business Maybe Capitec should buy Zimbabwe
_Business But cheap shit accounts and services. After I moved away from Capital I saved monthly R 500 in fees.
_Business The problem with cheap things is that they never last forever and often come with cheap impressions, nna I'm fine with FNB and my Nedbank and my Discovery bank.
_Business Capitec benefitted as a result of their reckless money loaning.
_Business Zimbabwe randomly catching strays
_Business Capitec will fall very soon, they are starting to be arrogant and expensive.