There is no doubt that Capitec has had a profound impact on the banking sector in the past decade - but in the past five years we have seen massive inroads from TymeBank in the mass market and Discovery Bank, particularly in more affluent segments.
TymeBank, which launched in 2019, has amassed 9.5 million customers and achieved operational breakeven last December. Discovery Bank crossed the one million client mark a few months back, and those customers have more than 2.3 million accounts. It, too, has reached breakeven and ought to report profits going forward.
But numbers of customers and transactional activity is but one set of metrics.
It is not difficult to have a huge number of customers generating revenue who are not profitable (ask the big four banks about their Mzansi account adventures).
この記事は The Citizen の October 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Citizen の October 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Newnham has Sha Tin ambitions
Mark Newnham is rolling through his second season in Hong Kong with flying colours and today the trainer saddles five runners at Sha Tin's eight-race all-dirt programme.
Work and racy return as Ford prices new Transit Custom Sport
Ford has officially confirmed pricing of the new Transit Custom Sport.
Uphill battle looms for Royal AM
Embattled Betway Premiership club Royal AM's trip to Tshwane to face the reigning champions Mamelodi Sundowns couldn't have come at the worst possible time.
Sasol shares slump amid poor show
The stronger rand against the dollar, oil price volatility, and lower refining margins all impacted JSE-listed Sasol's business for the three months ended 30 September this year.
TALKING ABOUT...
Astronauts on Nasa mission will wear Prada for moonwalk
Navalny still has huge support
Paris – Well-wishers cover the grave of Russian opposition figure Alexei Navalny with flowers every day, showing he still has “huge numbers of supporters”, his widow Yulia Navalnaya said yesterday.
Street names are significant
The quote, “A rose by any other name would smell as sweet”, from Shakespeare’s play, Romeo and Juliet, is what Juliet thought at that moment – that a name is just a label to distinguish one thing from another.
Iran clears the air over its space
Kuwait City – Iran’s neighbours have pledged they will not allow the use of their “soil or airspace” for any att ack, Iranian Foreign Minister Abbas Araghchi said yesterday, as Israel weighs a retaliation for the Islamic republic’s missile strike.
Gaza: poverty rate 'doubles'
REPORT: ADDITIONAL 2.61 MILLION PALESTINIANS POOR
King Charles sails through Oz
Sydney - King Charles III greeted throngs of admirers under the sails of the Sydney Opera House yesterday, the public finale to his first major foreign sojourn since falling sick with cancer.