Capitec Rated the Best South African Bank in 2017

Capitec Rated the Best South African Bank in 2017

Capitec Bank Holdings Limited, Founded 1 March 2001; 17 years ago by Founders: Jannie Mouton, Michiel Le Roux & Riaan Stassen.  Capitec offers financial products like Loans, Investment Banking, Savings, Investments, Debit Cards, Credit Cards, Commercial Banking. The bank maintains over 800 retail branches nationwide, 3418 own or partnership ATMs and has over 6.2 million customers, according to the 2015 Chief Financial Officer’s Report. Of these customers, 309 000 are online banking customers and 3.5 million are mobile banking customers.

Choosing a bank is a simple yet intricate task that is why we need a national index to help customers voice their opinion regarding the quality of products and services in South Africa. The National indicator is a great place to measure the competitiveness of your preferred bank compared to the industry standard.

The South African Customer Satisfaction Index (SAcsi) for the local banking industry showed that the overall satisfaction with South African banks has improved – with Capitec bank still being the number 1 bank.

Consulta is a company that runs the South African Customer Satisfaction Index (SAcsi). Visit their website for more info.

South African banking industry has improved on its customer relations from 76.3 (in 2016) to 76.5 average industry score in 2017.

According to Consulta, the SAcsi Benchmark for Retail Banks offers fair insights into the South African retail banking industry by combining a Customer Expectations Index, Perceived Quality Index and a Perceived Value Index to achieve an overall result out of 100.

The Below South Africa’s top five retail banks are included in the industry index

Bank 2016 Score 2017 Score
Capitec 83.8 83.1
FNB 79.8 81.3
Nedbank 75.6 77.0
Absa 74.3 74.2
Standard Bank 73.0 71.9

The sample used to determine the scores is one of the largest of all SAcsi industries included, with 17,483 randomly selected banking customers being included in their latest survey.

In the SA-csi 2017 results, Capitec has led the industry in the measure, with its SA-csi score of 83.1.

“In the banking industry, we have empirical evidence that customer experience drives customer satisfaction rather than product innovation. Thanks to the ease of banking and simplicity of services, Capitec and FNB both performed strongly in this area,” said Consulta CEO, Professor Adré Schreuder.

“FNB showed the highest improvement and is now within reach of Capitec, with Nedbank still in the race. The intensity in competing for customers’ hearts and minds is fierce since only two banks have managed to improve their scores this year, namely FNB and Nedbank.

“Despite the Barclays announcement, Absa showed resilience in maintaining its score at the same level as (last year’s findings).”

Related Articles:South African Customer Satisfaction Index


Bank Account Fees Explained-Know What is Happening in Your Account

How To Choose The Right Bank Account That Will Suit Your Needs

Basic things banks look out for when assessing a home loan application

How to Know if You Have Way Too Much Debt

5 Reasons Why You Need a Credit Score

Banking,Consulta,SAcsi,Capitec bank,standard bank,FNB,Absa,Nedbank,best bank in south africa