Capitec adds 1 million new customers

Capitec says it continues to grow, adding 902,000 active clients over the past year ending in August 2015, of which 576,000 are additional primary banking clients.

Active client numbers grew during the past six months to 6.7 million at the end of August 2015.

According to the comprehensive AMPS survey for the period ended December 2014, 18.9% of South Africans regard Capitec Bank as their primary bank, up from 16.8% for the period
ended June 2014.

“Similar growth in market share is expected when the next survey is announced,” Capitec said.

Over the last twelve months, Capitec said it opened 44 branches and created 1,543 new jobs, while the last six months has seen 23 new branches opened and 228 new ATMs installed.

The bank now has 691 branches and 3,646 ATMs, including 1,071 owned by the group.

A total of 773 new jobs were created in the last six months and Capitec said it now employs 11,034 people.

Headline earnings advanced 25% to R1.469 billion, while headline earnings per share improved 25% to R12.71.

The group announced an interim dividend per share of 375 cents, up 52%.

Growth came from higher loan and transaction fee income and improved loan book performance as a result of better granting criteria and lower arrears, the bank said.

Operating costs increased by 21% to R2.3 billion for the six-month period, representing a year-on-year increase of R403 million.

The growth resulted from employee numbers increasing by 16% due to the expanding branch network and employing more people in support departments, mainly information technology.

“There are 869,000 more clients making use of cellphone banking since August 2014, with 3.8 million clients using this method to transact,” Capitec said.

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Capitec adds 1 million new customers