Capitec

Capitec Bank is a prominent retail bank in South Africa, established in 2001 and headquartered in Stellenbosch. It is licensed by the South African Reserve Bank and has become the largest retail bank in the country by customer numbers, serving over 22 million active clients as of 2024. The bank has a strong focus on lower- to middle-income segments and opens approximately 120,000 new accounts each month. Initially starting as a lender for unsecured loans, Capitec has expanded into a full-service bank offering a streamlined range of financial products. Its core services include a single type of bank account, unsecured personal loans, credit cards, funeral policies, and mobile banking through the Capitec Connect app. The bank operates over 866 branches nationwide and employs more than 15,000 people, maintaining a low cost-to-income ratio that reflects its operational efficiency. Capitec Bank is publicly listed on the Johannesburg Stock Exchange and has demonstrated significant financial strength with a market capitalization of around R237 billion.