As of September 2025, Capitec was the largest retail bank in South Africa, based on number of customers, serving a total of 24.1 million individuals (constituting 38% of the South African population at the time).[2]
Capitec also has South Africa's largest branch network, at 880, and largest ATM network, at almost 9,000. In the same month, Capitec had the second-highest market capitalization and highest return on equity out of the "big five" banks.[2]
History
In 2014, Capitec bought a 40% shareholding in loan provider AvaFin, which serves Mexico, Poland, Spain, Czechia, and Latvia.[5]
According to the annual results for the 2015 financial year, the Capitec's asset base was in excess of R53.9 billion, with R11.6 billion in equity, and with retail savings deposits increasing by 32 percent for the year to R19.3 billion and retail fixed savings increasing by 19 percent to R10.7 billion for the year.[6]
In 2024, Capitec increased its shareholding in loan provider AvaFin to 97%, at a cost of approximately R540 million.[7]
In March 2025, Capitec announced that founding member and CEO Gerrie Fourie would retire in July of the same year, and would be replaced by Graham Lee.[8] At the time, South African online publication news24 credited Fourie for having overseen the rapid rise of Capitec, which transformed from a challenger bank serving 5 million people when he was appointed in 2014, to over 24 million at the time of his departure from his role.[9]
Operations
Capitec offers a range of finance products, including transactional, savings, and investment accounts. Its Capitec App has the most users for a financial services app in South Africa, at 14 million in total, as of October 2025.[7]
Serving as an MVNO, the bank also provides mobile connectivity packages, branded as Capitec Connect, through a partnership with major South African telecoms company Cell C.[7]
Corporate social responsibility
Capitec funds numerous CSR initiatives. The bank has a particular focus on education, and in 2025, it spent a total of around R60 million on programs in the sector (mostly via its Capitec Foundation).[1]
The bank's MoneyUp Academy, seeks to improve general financial literacy in South Africa by providing educational tips to users. As of 2024, it has over 751,000 members. A similar platform exists via its fully automated MoneyUp Chat feature, which operates via WhatsApp, and, as of 2024, has over 144,000 members.[1]
Accolades
In 2025, Capitec had the highest customer satisfaction rating in the South African Customer Satisfaction Index (SAcsi), at 82.2.[10]
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
R35.80 billion (2025) [1] 
