Has Capitec run out of steam?
Capitec’s push into business banking should herald another shake-up for the sector, but mind its highly priced shares
SMEs are now in Capitec’s sights as the bank solidifies its retail customer base.
Capitec’s plan to increase its business banking clients comes three years after it pounced on Mercantile Bank. And, says CEO Gerrie Fourie, the business banking unit has been adding 1,500 clients a month as recently as March for a total of more than 125,000 accounts at year-end in February. That implies a 10% increase on the previous fiscal year...