Capitec’s client-centricity sees an 84% increase in group headline earnings The bank’s results exceed expectations despi

Loading player...
South Africa, 12 April: Capitec has been driven by the same vision since its inception. To be the bank that provides everyone with access to simple, affordable and personalised banking and allows them to live better. This unwavering focus on doing what is right for their clients has yielded 84% growth in group headline earnings to R8.4 billion for the 2022 financial year. This represents a compound annual growth rate of 23% since 2012.
Named the strongest brand in SA in the Brand Finance 2022 ranking, the bank increased its active client base by 14% to 18.1 million, which translates to nearly 190 000 new clients per month. Active digital banking clients (app, internet banking and USSD) grew by 17% to 10.1 million, of which 6.6 million clients use the banking app, up 25% since 2021. Despite the challenges presented by COVID-19, several hard lockdowns and the civil unrest in KwaZulu-Natal and Gauteng, Capitec’s accessible product offering continues to resonate with all South Africans. Mercantile Bank, a division of Capitec, also reported a growing client base with its total active business clients increasing by 10% to 125 270.
Gerrie Fourie, Capitec Chief Executive Officer, says, “During the past year, our agility and focus made it easy for the bank to quickly adapt to the new reality. We viewed the challenge as an opportunity to assist our clients and make banking uncomplicated and accessible to all. Capitec’s digital solutions have been crucial in enabling this growth. In addition, our staff have been instrumental in this adoption and have excelled in this new, hybrid, digital world.”
12 Apr 2022 11AM English South Africa Business News · Investing

Other recent episodes

Pivot Point: Shaping Africa’s Energy Future

Ndapwilapo Selma Shimutwikeni, Founder and CEO of RichAfrica Consulting, shares insights on transforming Africa’s natural resource potential into sustainable economic growth. We explore investment opportunities in oil and gas, the Orange Basin, Namibia’s energy policy, ESG strategies, and how African countries can better leverage natural resources for long-term development.
12 Mar 1PM 38 min

Standard Bank Group Posts Strong 2025 Results

Standard Bank Group has closed 2025 on a strong note, reporting headline earnings of R49.2 billion and a return on equity of 19.3%, hitting the top end of its ROE target range. CEO Simpiwe “Sim” Tshabalala joins us to unpack the drivers behind the bank’s performance, including growth in digital…
12 Mar 1PM 11 min

South Africa’s Mining Sector Off to a Strong Start

Stats SA reports a 4.6% rise in mining output and a 31.7% jump in mineral sales year-on-year for January. Mining analyst Peter Major breaks down which minerals are driving growth, whether gains are linked to prices or volumes, and what these trends mean for investors and the South African economy.
12 Mar 1PM 11 min

INSIDE YOUR POCKET: Retirement Under Pressure: Rising Debt Among Older South Africans

As South Africa’s population ages, more seniors are turning to credit to cover everyday expenses. Andrew Fulton, Director at Eighty20, explores the financial realities for “Humble Elders” and “Comfortable Retirees,” why defaults among seniors are rising, and what this means for families, policymakers, and the broader economy.
12 Mar 1PM 13 min

Sanlam Delivers Strong 2025 Results and Pan-African Expansion

South Africa’s leading financial services group, Sanlam, achieved record new business of R496 billion, with net client cash flows more than doubling. CFO Abigail Mukhuba discusses the group’s operational performance, Pan-African growth strategy, strategic acquisitions like Assupol and Shriram Finance, the launch of the ZARU stablecoin, and how the company…
12 Mar 1PM 11 min