Capitec Bank has achieved a remarkable milestone, now serving as many clients as the combined total of Standard Bank, Absa, and Discovery Bank. Additionally, Capitec’s revenue from transaction fees per customer has significantly increased compared to a decade ago. With 22 million active clients as of the end of February—an impressive 10% growth from the previous year—Capitec has firmly established itself as the largest retail bank in South Africa.
The magnitude of Capitec’s expansion over the past decade is extraordinary. To contextualize this growth, Capitec’s client base exceeds the next largest bank, Standard Bank, by over 10 million clients. The bank boasts nearly as many active mobile app users, 11.2 million, as Standard Bank has total customers in the country, which stands at 11.4 million.
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