Capitec Bank Announces growth in having close to 10-Million Active Clients

Capitec grew its active clients by 15% to 9.9-million in the year to end-February and expects to breach the 10-million barrier in a few days, it said in its results statement on Tuesday morning.

Client number figures were conspicuously absent in the recent results statements from the big four banks.

Capitec declared a final dividend
of R5.25, taking its total for its 2018 financial year to R14.70, a 17.6% growth from the previous year’s R12.50.

This beat the best performing of the big four, Standard Bank, which grew its total dividend by 16.7% to R9.10 for its financial year to end-December.

Capitec said that more than 3-million of its clients had activated its banking app — indicating it may have overtaken Standard Bank, which said in its results statement that "almost 2.2-million unique customers actively [used] digital channels as their preference, with more of these choosing to use our mobile banking offering than internet banking".
 
Measured by market capitalisation, Capitec still trails a distant fifth. FirstRand is the JSE’s largest bank, with a market cap of R389bn at Monday’s closing prices, followed by Standard Bank at R357bn, Barclays Africa Group with R166bn and Nedbank with R144bn. Capitec’s market cap on Monday was R103bn.

Capitec’s net income grew 17% to R12.5bn in the year to end-February.
Transaction fees were its fastest-growing income generator, rising 31% to R5.1bn.

Capitec grew its active clients by 15% to 9.9-million in the year to end-February and expects to breach the 10-million barrier in a few days, it said in its results statement on Tuesday morning.
Client number figures were conspicuously absent in the recent results statements from the big four banks.

Capitec declared a final dividend of R5.25, taking its total for its 2018 financial year to R14.70, a 17.6% growth from the previous year’s R12.50.
This beat the best performing of the big four, Standard Bank, which grew its total dividend by 16.7% to R9.10 for its financial year to end-December.

Capitec said that more than 3-million of its clients had activated its banking app — indicating it may have overtaken Standard Bank, which said in its results statement that "almost 2.2-million unique customers actively [used] digital channels as their preference, with more of these choosing to use our mobile banking offering than internet banking".
Measured by market capitalisation, Capitec still trails a distant fifth. FirstRand is the JSE’s largest bank, with a market cap of R389bn at Monday’s closing prices, followed by Standard Bank at R357bn, Barclays Africa Group with R166bn and Nedbank with R144bn. Capitec’s market cap on Monday was R103bn.

Capitec’s net income grew 17% to R12.5bn in the year to end-February.
Transaction fees were its fastest-growing income generator, rising 31% to R5.1bn.

• Businessdaylive