Capitec Bank co-founder and chair Riaan Stassen. Picture: HETTY ZANTMAN/FINANCIAL MAIL
Capitec Bank co-founder and chair Riaan Stassen. Picture: HETTY ZANTMAN/FINANCIAL MAIL

Riaan Stassen, the man who shook up SA’s banking industry when he co-founded Capitec Bank is retiring from the company at the end of May.

Stassen, who has served as nonexecutive chair of the bank since stepping down as CEO in 2013, played a leading role in growing Capitec into the third-largest bank in SA in terms of market capitalisation in just 18 years. Capitec’s market capitalisation was about R153.332bn at Thursday’s close.

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