Business News 1.2.2017 02:22 pm

Capitec ‘increases lead as SA’s most popular bank’

A Capitec branch in Johannesburg, South Africa. (File Photo by Gallo Images / Sunday Sun / Sipho Maluka)

A Capitec branch in Johannesburg, South Africa. (File Photo by Gallo Images / Sunday Sun / Sipho Maluka)

Capitec said more than 120k customers opened accounts at Capitec Bank every month for ‘a simplified and affordable banking solution’.

Capitec Bank on Wednesday said new research had shown that it had increased its lead as South Africa’s most popular bank.

The bank, which was established in 2001, said consumer research group Nielsen’s most recent annual banking survey also showed that Capitec Bank now had more clients than both FNB and Nedbank, making it the third largest retail bank in the country.

“These results are testament to the success of our vision and values, keeping our costs low, giving customers the freedom to pay as they transact as well as offering the highest interest of 5.35 percent on a positive bank balance,” said Charl Nel, Capitec’s head of communications.

Capitec said that more than 120 000 customers opened accounts at Capitec Bank every month for “a simplified and affordable banking solution”. It added that 5.5 million account holders, the majority of Capitec clients, paid less than R50 a month in bank costs.

 

 

 

 

 

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