BANKING
Capitec recovers R18bn in market value as shares soar 10% on trading update
The bank has been able to leverage its brand and client base to expand banking and financial services
10 September 2023 - 19:00
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.