SURVEY FINDS CAPITEC BANK IS NOW THE LARGEST BANK IN SA

JOHANNESBURG-  According to the Publisher Audience Measure Survey (PAMS) Capitec Bank is now the largest bank in South Africa in terms of the number of clients who use it as their main bank.

The survey group, PAMS compared Capitec bank to South African main banks, such as First National Bank (FNB), Standard Bank, ABSA and Nedbank.

In 2017, 9.17 million people used Capitec Bank as their main bank.

Absa was second with 5.06 million customers, third was FNB with 5.01 million people, then Standard Bank (3.97 million) and Nedbank (3.36 million).

The survey showed that Capitec had not only surpassed their competitors but at a rate of 23% penetration vs. 13% for the second placed ABSA and FNB and completely blown away their competitors.

Photo Credit- Publisher and Business Tech

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