Boon for bank and customer

Fans of the routine that revenge is a dish best served cold may rethink after a peep at Capitec’s results, which aim such an echoing raspberry at shady short sellers Viceroy that it really doesn’t matter a whit whether it’s served cold, tepid from an all-you-can-eat buffet or piping hot and straight from the skillet. It’s tempting to think of Viceroy much as Polonius would have thought of Hamlet, if he hadn’t just been killed by him, that any old fool can have a wild stab in the dark and hit a target once in a while.

The most salient feature of

Capitec’s results announcement is that it hasn’t allowed itself to be distracted by all manner of sturm und drang in the background, it has just kept on doing what it does best, constantly refining its offering to make it as useful and affordable as possible to its ever-growing army of satisfied customers. In the past six months

109,000 more customers a month transferred their allegiance to the Capitec flag, and the security and convenience offered by digital and selfservice transactions are a boon to customer and bank alike.

Capitec’s banking app was used by 1.8-million clients in the period, an increase of 62% from the previous year. The bank is constantly tweaking its credit strategy, resulting in arrears going down and recoveries up, and it has managed a return on equity of 27%. It has branched out into funeral insurance and is looking to launch into business banking, something of a leap from its core expertise, but closer to its skill set than Iceland’s tragic diversion from deep-sea fishing to investment banking.

Capitec has kept on doing what it does best for its evergrowing army of satisfied customers