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Capitec Bank is a South African retail bank and financial services company. [2] As of February 2024 the bank was the largest retail bank in South Africa, based on number of customers, with 120,000 customers opening new accounts per month.
Michiel Scholtz du Pré le Roux (born 20 May 1949) is a South African billionaire businessman and philanthropist who co-founded Capitec Bank. He was the bank's inaugural chief executive officer from 2001 to 2004 and later served as its chairman from 2007 to 2016. One of South Africa's richest men, he is also a major donor to the Democratic Alliance
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In 1995, Mouton was fired as managing partner by stockbrokers Senekal, Mouton & Kitshoff, a firm he co-founded. He later founded PSG Group. He later founded PSG Group. [ 5 ] [ 6 ]
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[5]: 13 It was only in 1975 when R1 million was raised and met Reserve Bank approval, that it was founded. [5] The original African Bank Limited , was established on 31 July 1975, and was a subsidiary of African Bank Investments Limited , then a bank-controlling company listed on the Johannesburg Stock Exchange . [ 6 ]
The Natal Bank, which was founded in 1854 to fund the Natal Colony's sugar industry, also suffered financial difficulties and was taken over in 1914. By this time, the National Bank was now one of the strongest and largest banks in South Africa.
The bank was founded in Republic of South Africa in 1965. It obtained a banking licence in 1989; [6] and became a fully owned subsidiary of Mercantile Bank Holdings Limited, a bank holding company incorporated in January the same year. [3] In 1995, the bank merged with Bank of Lisbon International (BLI) – a bank established in 1965.