Financial powerhouse, Capitec, reaffirms robust performance in the annual report, as a burgeoning business bank continues to garner momentum
In a spectacular leap, Capitec, SA's top digital bank, has smashed records, serving over half of the nation's grown-ups. This whirlwind ride over the last five years has seen the bank introduce business banking, a suite of game-changing services, and even insurance under their own license.
Capitec's customer base skyrocketed to an impressive 24-million, with a staggering 13-million of these folks frequently engaging with their app. This digital powerhouse is on a mission to make a real impact and empower people to thrive, and it's doing just that, creating value for individuals, businesses, and the economy as a whole.
The bank's arsenal includes a variety of digital transaction services like buying airtime, data, electricity, and vouchers, as well as bill payments via their app. Their mobile offerings also include Capitec Connect, a service providing a host of digital banking solutions. Bravely venturing into the insurance sector, Capitec now offers insurance products to complement their personal banking services. Business banking catering to SMEs and a range of credit and loan options complete their extensive portfolio.
Thanks to its focus on innovation and diversification, Capitec's value-added services (VAS) have been a major growth driver, with VAS net income soaring by 56%. Now, that's what I call digital dominance!
- The economic influence of Capitec, SA's top digital bank, has expanded significantly, empowering the finance needs of a large populace, especially small and medium enterprises (SMEs).
- Capitec's services have transformed the business landscape, offering a wide array of solutions including banking, insurance, and value-added services (VAS) like airtime, data, electricity, and bill payments.
- With a digital platform that caters to over 24 million customers, Capitec has spearheaded a revolution in the banking sector, enabling 13 million individuals to engage regularly through their app.
- Capitec's innovative approach to banking and insurance, coupled with their successful diversification into value-added services (VAS), has led to a 56% increase in VAS net income, signifying digital dominance.
- Amidst the rapid growth and expansion, Capitec's vision remains clear – to make a real impact and empower people to thrive, contributing positively to the economy as a whole.
