Capitec becomes SA's second-biggest bank

As at June 2017, Capitec bank hit nine million retail customers – a number which makes it SA’s second-largest bank (using this metric - customer numbers).

In reporting its full-year results for the year ending February 2017, Capitec said it added 1.3 million customers in the preceding 12 months, ending on 8.6 million customers. However, it added a further 400,000 customers in the five months following this, to June 2017.

Capitec has recorded major client growth over the last few years, leading to it being named the third-largest bank in the country by client numbers by the end of 2016.