Capitec experienced massive growth in its earnings and active client base for the financial year ended 29 February 2024.
Capitec CEO Gerrie Fourie attributed this incredible growth to Capitec’s investment in its systems, innovative payment solutions, and three new business units.“This growth aligns with the bank’s strategy of shifting the market towards digital banking while maintaining a competitive advantage through branch service delivery,” said Fourie.
This impressive growth was thanks to its diversified businesses, with non-interest income now contributing 72% of its total income. Capitec’s app increased its user base by over 180,000 per month and registered over 11 million daily logins – equal to over 500,000 people using the app every hour.“We have over 2 trillion data points, which helps us anticipate our clients’ needs, develop better products, and communicate with our clients in a more relevant way,” said Fourie.During the same period, the Capitec Group’s other businesses have also been thriving.
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