New research shows the rapid strides being made by Capitec, a\u00a0relative newcomer to the South Africa’s banking sector, in accruing customers – at the expense of established giants in the market.<\/p>\n
This is according to the latest data from Dashboard and World Wide Worx, unveiled this week (26 November 2013), as part of a collective Mobility 2014 study.<\/p>\n
Out of a sample of 827 respondents, 24% said their primary account was with Absa, down from 32% in\u00a02012, and 31% in 2010.<\/p>\n
FNB\/Rand Merchant Bank slipped down to third position from the prior year, with 20% in 2013, from 24% in 2012, and 26% in 2010.<\/p>\n
Standard Bank moved up to second position, with 21%, although this is also down from the prior year\u2019s 22% and from 24% in 2010.<\/p>\n
Capitec was the biggest winner in the survey, accounting for 19%, up from 11% in 2012, and from 4% in 2010.<\/p>\n
The Post Office accounted for a 2% share in 2013.<\/p>\n
In September,\u00a0Capitec Bank<\/a>\u00a0reported an 18% rise in active clients to 5.016 million, in financial results for the six months ending August 2013.<\/p>\n The survey also supports earlier\u00a0AMPS data which indicated that Capitec has\u00a0overtaken\u00a0Nedbank<\/a>\u00a0as the 4th biggest bank in South Africa by market share.<\/p>\n The research found that\u00a0FNB\/Rand Merchant Bank, leads the way in mobile phone banking penetration, with 44% (46%) of clients using that service; however, other\u00a0institutions\u00a0were shown to be catching up with Nedbank at 39%, up from 24% in 2012, Standard Bank at 39% (23%), Capitec at 36% (27%), and Absa at 33% (20%).<\/p>\n Almost all respondents (94%) said they still use an ATM to conduct their banking activities, with 84% still visiting a branch. Those people using Internet banking on a laptop or PC climbed to 15%, from 11% in 2012.<\/p>\n Capitec customers up 18%, CEO retires<\/strong><\/a><\/p>\n Is Capitec really the 4th biggest bank in SA?<\/a><\/strong><\/p>\nMore on SA banks<\/h3>\n