The AMPS results released this month are based on the “main bank” population and not specific products.
It shows an increase in Capitec’s market share from 7.9% to 10.8% between January and December 2012. This is a 43% year-on-year increase for the bank among the main bank population of 22 million.
Nedbank currently has a market share of 10.7%, down from 11% in 2011. Although it fell from 34.9% to 32.9%, Absa still holds the biggest chunk of the market.
Standard Bank saw a slight 0.4% rise in market share from 23.5% to 23.9%, while First National Bank (FNB) went down from 25.6% to 25.2%.
Carl Fischer, executive: marketing and corporate affairs at Capitec Bank said his bank is still a small player among giants, but the significant growth in new clients who are depositing their income with Capitec is a clear indication of public trust in the bank meeting their core banking needs.
Capitec’s annual results, announced in March this year, underlined the AMPS finding: its total client base increased by 26% to 4.7 million active clients, of whom 3.1% were cellphone banking clients.
To meet the demand in customer growth, Capitec’s employee numbers grew by 1 114 to 8 308, in part due to the opening of 53 new branches this year.
Capitec said it plans to open a further 75 branches over the course of the next financial year, which will bring its total footprint to 567.
Charl Nel, head communications at Capitec said the latest AMPS data shows that the bank is now becoming a significant threat to the bigger banks - and that amid a much lower advertising spend.
Capitec’s compounded growth in the transactional banking space over the last five years shows lending activities grew by 30.5%, from R1.4bn to R3.9bn, while transactional fee income grew by 65%, from R300m to R2.1bn.