SA’s biggest retail bank Capitec recovered R18bn in market value on Friday as its share price soared 10% in its biggest one-day gain since the early days of the Covid-19 pandemic after the release of the trading update.

With over 20-million clients and counting, Capitec dominates the retail banking market, having leapfrogged the traditional Big Four banks in SA over the past two decades since it burst onto the scene. However, its turf is being challenged by new start-ups and traditional banks alike even though the bigger competitors offer much more than retail banking services...

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