Parent Company: Capitec Bank Holdings Ltd
Brand Value: $761 Mil.
Headquarter City: Cape Town
Year Formed: 2001
Capitec Bank is South Africa’s second largest retail bank and is growing at a pace of 120,000 new account openings per month, driven by low-cost banking. Emphasizing simplicity, affordability, accessibility and personalization, their slogan, “Bank Better, Live Better” is reinforced by the many online tools and educational articles. They have 826 branches operating longer hours than their competitors, 326 of which are open seven days a week, and 13,000+ employees (85% of which are below age 35, 89% are African, Colored and Indian). Capitec’s 2017’s strong recent performance included a net income of R12.5 billion, a 17% increase over the year prior. And of its nearly 10 million customers, 3.7 million are using their mobile banking platform representing a 71% increase in its online user base.