The market value of SA’s two most valuable lenders, FirstRand and Capitec, is fast approaching the R500bn mark each as competition in the sector heats up, fuelled by fintech and value-added services.
Capitec is SA’s largest bank by customer numbers, having amassed 25-million clients, and is valued north of R450bn — almost neck and neck with FirstRand as the banking majors battle it out for the most valuable bank spot.
Capitec’s share price has surged more than 150% over the past five years, valuing the group at about R463bn on the JSE on Thursday, with FirstRand up 73% in the same period, taking its value to R466bn. Standard Bank, Africa’s largest bank by assets, is not far off from being the most valuable bank, valued at R450bn on the JSE and up 113% in the past five years.
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