The Capitec Bank company logo is seen displayed on a smartphone screen. Photo: Piotr Swat/SOPA Images/LightRocket via Getty Images
JOHANNESBURG - Capitec continues to reign as South Africa’s most popular bank.
It remains the biggest bank by numbers, with more than 26.6 million clients.
The bank released results on Wednesday for the six months that ended in August.
Headline Earnings – a main measure of profit - rose by 19% to R9.5 billion.
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Capitec began as a retail bank in 2001 focused on low-income depositors.
It now has a large and diversified client base including nearly 700,000 businesses and entrepreneurs.
Competition in banking is growing, however, with several newcomers launching digital-only offerings or targeting the low-income market.