BANKING: Capitec Bank Ranked Number One
Recent Western Cape Business News
South Africa’s youngest retail bank, Cape-Town based Capitec, has been ranked number one in the annual Sunday Times Business Times Top 100 Companies survey for 2010. The survey features the Top 100 companies listed on the JSE and rates which companies have earned the most wealth for their shareholders through means of share price increases and dividends paid out.
Capitec Bank CEO, Riaan Stassen, says this is another milestone for the company straight off the back of its recent positive interim results in September. The results saw the nine-year old bank growing by 59% in profit (year-on-year), achieving 2.5 million active clients as well as expanding its footprint by another 51 branches in the last twelve months, to the total of 420.
“We are delighted to be ranked first in this survey within eight years of being listed on the JSE. Despite the challenging market conditions over the past few years, our headline earnings per share grew by 58% to 340 cents and we also saw an increase of 30 cents to our interim dividends since 2009. We believe Capitec Bank is well positioned to continue its exciting growth path in the current economic environment and the results of surveys like this are indicative that we are on the right path,” Stassen added.
This is not the first accolade revealing the bank’s successful growth this year. In March 2010, Credit Suisse named Capitec Bank as one of the ‘27 Great Brands of Tomorrow’, the only African brand to be included in the international report.
Business News Sector Tags:
Fax 2 Email
Study IT Online
Work from Home