From rural areas to high-end shopping malls, Capitec Bank has grown a comprehensive client base spread out across low- and middle-income earners. Blue-collar workers, pensioners and a tech-savvy middle-class of young professionals have been attracted to its services. Capitec client numbers grew by about 1.3 million to 8.6 million in the financial year ending February 2017 - an average of 100,000 new clients per month. Francois Viviers, Capitec's marketing and corporate affairs executive, said this week the bank did not "discriminate" on income and gave all its clients the same level of service. "We grew our footprint first in the rural areas and moved from there to urban areas, and now to high-end shopping malls. The result is that the low-income market segment was the first adopter of Capitec Bank and therefore represents a large share of our client base," he said. The bank's slant towards inclusivity has been a huge drawcard for the low-income segment. Customers in this category e...
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