Capitec sees future in SMEs

Acquisition aids move into ‘neglected’ sector of business banking

18 April 2021 - 00:10 By NICK WILSON

Capitec’s move into business banking, cemented by the acquisition of Mercantile Bank at the end of 2019, is gaining momentum — customers in this segment surged 33% in the year ended February.

The growth in business banking customers to 90,000 may come off a low base but CEO Gerrie Fourie believes there are good growth opportunities for the bank in the often neglected small and medium enterprise (SME) sector...

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