Capitec mobile banking hits 2 million clients

South African commercial bank Capitec Bank Holdings reported on Wednesday (26 September), that it had signed up more than two million clients to its mobile banking service.

“Capitec promotes the use of mobile banking, and at the end of August 2012, in excess of 2.0 million clients were registered for this service.

“The added convenience of mobile transacting in the form of prepaid vouchers for electricity and cell phone airtime was well supported and led to the doubling of income from electronic vouchers for the six months since February 2012,” it said in its results presentation for the six months ended August 2012.

Capitec saw its active client base grow consistently during the reporting period to 4.2 million at the end of August 2012. “This reflects an increase of 31% and equates to more than 90,000 new clients per month on average,” the group said.

The bank reported a 36.29% rise in diluted headline earnings per share, for the six months ended August 2012, to 691 cents.

Earnings improved by 43%, to R700 million‚ and the bank declared an interim dividend of 169 cents per share – up 35% from 2011.

In July, Capitec told BusinessTech that its next phase of development would target smartphone users.

“Our next phase of development will be to target the market with smartphones and their additional functionality,” Capitec told BusinessTech. “This could be done by either an app, or a very functional and user-friendly mobile site – or both. We will use the option that is the easiest for the normal man or woman on the street.”

“Capitec Bank sees mobile banking as an access mechanism – nothing more nothing less. So it’s not packaged as an “extra” product/service like some banks do and charge extra for,” Capitec said.

“Mobile banking and Internet banking are both included in our single R4,50 monthly fee.”

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Capitec mobile banking hits 2 million clients