Capitec Bank’s customer base up 13% to 19-million

Capitec Bank now has a client base of 19-million active clients, having grown its customer base by 13% in the six months ended August 2022.

The lender also appointed, 1642 new employees, with 20% of new hires fulfilling technology and data roles.

The group recorded a 17% growth in profits to R4.7-billion from R4-billion for the comparative period. Operating profit before tax and credit impairments grew by 24% to R8.8-billion, compared to R7.1-billion a year ago.

Lending income grew by 13% to R8-billion and net credit life insurance and funeral plan income grew by 64% to R1.5-billion.