{"id":37411,"date":"2013-05-08T15:03:09","date_gmt":"2013-05-08T13:03:09","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=37411"},"modified":"2013-05-09T08:39:33","modified_gmt":"2013-05-09T06:39:33","slug":"biggest-sa-banks-shock","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/37411\/biggest-sa-banks-shock\/","title":{"rendered":"Biggest SA banks shock"},"content":{"rendered":"

The latest\u00a0All Media and Products Survey (AMPS) data on the South African banking sector shows that, while Absa<\/a> retained its position as SA’s largest bank, Capitec<\/a> has pushed past Nedbank into 4th place.<\/p>\n

The AMPS results – based on the \u201cmain bank\u201d population and not specific products – shows that Absa has retained the largest portion of South Africa’s 23.2 (2012) million banked population, covering 32.9% of the market. This is down from 34.9% in 2011.<\/p>\n

First National Bank<\/a> moved down from 25.6% to 25.2%, while Standard Bank<\/a> saw a 0.4% increase in market share, from 23.5% to 23.9%.<\/p>\n

New kid on the block, Capitec\u2019s market share grew from 7.9% to 10.8% between the period of January 2012 to December 2012, showing 43% year-on-year growth for the bank.<\/p>\n

This means Capitec has pushed past Nedbank, which currently has a market share of 10.7% (down from 11% in 2011), according to the AMPS data.<\/p>\n

\"Banking<\/a>

Banking AMPS numbers (click to enlarge)<\/p><\/div>\n

\"Banking<\/a>

Banking AMPS percentages (click to enlarge)<\/p><\/div>\n

Massive marketing spend<\/h3>\n

The latest AMPS data has also revealed how much each of SA’s big banks – including Capitec – has spent on marketing between March 2012 – February 2013.<\/p>\n

According to the data, the five banks spent a total of R1.75 billion in marketing over the period, with FNB spending the most – R562.3 million.<\/p>\n

FNB CEO, Michael Jordaan<\/a> noted in a tweet that “thanks to Steve”, the bank had reached a milestone 1.5 million active consumer cheque accounts – up 13% from 12 months ago.<\/p>\n

\"Michael<\/a>

Michael Jordaan – Thanks Steve tweet<\/p><\/div>\n

Despite its large marketing spend, however, the AMPS data shows that FNB still lost market share, albeit marginally.<\/p>\n

In contrast, Capitec, with the lowest marketing spend of R93.4 million, managed to boost its market share.<\/p>\n

“It\u2019s not time to state that we have comfortably surpassed Nedbank yet (in terms of market share) but it is nevertheless clear that we are now becoming a significant threat to the bigger banks with a much lower advertising spend on our side,” Capitec said.<\/p>\n

“This indicates to [us] that our message resonates more with the market to be able to still get through to the market in a situation where the other players combined spend so much more to advertise their brand.”<\/p>\n

\"Total<\/a>

Total Ad spend (Click to enlarge)<\/p><\/div>\n

Capitec’s climb<\/h3>\n

In posting its annual results in March 2013, Capitec reported that its total client base increased by 26% to 4.7 million active clients in the previous financial year – of these, 3.1% were cell phone banking clients, the bank said.<\/p>\n

“The significant growth in new clients who are depositing their income with us is a clear indication that the public trusts Capitec to meet their core banking needs,” said Capitec’s executive of corporate affairs, Carl Fischer<\/a>.<\/p>\n

“It also demonstrates that our unique banking model..is highly compelling and we are confident that we will continue to increase our market share going forward.\u201d<\/p>\n

More on Capitec<\/h3>\n

Capitec banking app on its way<\/a><\/strong><\/p>\n

Capitec targets smartphones next<\/strong><\/a><\/p>\n

Capitec banking app: \u201cthe jury is still out\u201d<\/strong><\/a><\/p>\n

Capitec soothes hacking fears<\/strong><\/a><\/p>\n

Capitec Bank selects Entersekt for mobile security app<\/strong><\/a><\/p>\n

Capitec mobile banking hits 2 million clients<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest AMPS data shows that there have been some suprising shifts in market share amongst the local banks.<\/p>\n","protected":false},"author":10,"featured_media":22444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[29,3088,1798,76,26,1799,499],"class_list":["post-37411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-absa","tag-amps","tag-capitec","tag-fnb","tag-headline","tag-nedbank","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=37411"}],"version-history":[{"count":13,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37411\/revisions"}],"predecessor-version":[{"id":37434,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37411\/revisions\/37434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/22444"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=37411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=37411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=37411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}