- Capitec Bank has been ranked the third strongest banking brand in the world
- In addition, the bank was also ranked the strongest bank in South Africa
- The bank was ranked along with 500 international banks and beat off the competition to secure the number three spot
Capitec Bank is waving the South African flag high after it was recognised as the third strongest bank brand in the world.
What makes this achievement so much more amazing is that Capitec was rated amongst the 500 strongest bank brands in the world and came out dangerously close to the top.
The bank is delighted to be honoured that the Brand Finance report found their brand so valuable according to Sunday World.
Factors that led to Capitec securing this prestigious award are its investment, stakeholder equity, and the impact of those on business performance.
Capitec came out on top in South Africa, ranked as the best bank in the country as well as securing the third spot out of the 500 banks ranked.
FNB was the only other South African bank to make the top 10 strongest bank brands in the world. FNB came in at an impressive number four on the list.
Earlier, Briefly.co.za reported that the Covid-19 pandemic has hit Mzansi hard and Capitec Bank has decided to refund thousands of their customers as part of a means to provide relief. Over 80 000 loyal customers should be receiving a total of R160 million in interest refunds.
The pandemic has been difficult for many South Africans with some losing their jobs due to the poor state of the economy because of the lockdown. Capitec Bank has decided to make things a little easier for their clients.
According to a statement released by the bank, the decision was made so that customers could be more settled during the Covid-19 pandemic.
Capitec CEO Gerrie Fourie said that they want to help their clients as much as possible during this time. This is why they waived the interest for the relief period for clients who met the qualifying criteria.
In other news, banks and financial institutions are now required to provide hand sanitiser at their premises and also at the locations of ATMs.
Nkosazana Dlamini-Zuma, Minister of Co-operative Governance and Traditional Affairs, announced that the government had identified ATMs as being 'super-spreaders' of Covid-19 because of people waiting in long queues to draw money.
The announcement noted that there was not enough sanitisation at ATMs and financial institutions must now equip ATMs with sanitiser.
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