Capitec Bank is a commercial bank in the Republic of South Africa. It is one of the locally-controlled banks licensed by the Reserve Bank of South Africa

South African Reserve Bank

The South African Reserve Bank is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920," as a direct result of the abnormal monetary and financial conditions which World War I had brought...

, the South African national banking regulator.

Overview

The bank operates as a retail bank that serves both individuals and businesses, but does not provide business banking for close corporations, companies, partnerships or trusts. It claims to focus on simplifying the banking experience, according to their literature. The bank maintains over 400 retail branches nationwide and has over 2.5 million customers. , the asset base of Capitec Bank was in excess of US$739 million, with shareholders' equity estimated at over US$208 million.

External links

• Capitec Bank Annual Report 2011
• Website of Capitec Bank