CAPITECTHE problem with succeeding over a reasonable time and growing like a well-watered adolescent is that it doesn’t take long until you’ve reached a scale at which it becomes ever more difficult to replicate the spurt of the early years.Since Capitec has shed its cheeky upstart label and now swings a big-enough stick to merit a place at the table with the Big Four, it is a remarkable achievement for the company to welcome over a million new active clients into the happy family in the year.Capitec is up to 7.3m active clients, of which 3.3m use the bank as their primary account, and this resulted in earnings rising by 26% despite economic conditions that have led to much tightening of belts across the board.The more the consumer focuses on squeezing the last bean out of the monthly budget the better for Capitec, which is more than happy to open the doors to customers frustrated with the opaque and expensive charges of certain other banks.It points to a report that details the imp...
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.