For the third year in a row, Capitec is the top South African bank in the Lafferty global rankings. Photo: Reuters
CAPE TOWN - For the third year in a row, Capitec is the top South African bank in the Lafferty global rankings, and one of the leading banks globally. According to this year’s Lafferty Banking 500 study - a survey of 500 banks worldwide (expanded from 100 surveyed in 2016 and 2017) - Capitec is one of only eight banks worldwide to achieve a five-star “top quality” rating.

Institutions from 72 markets across the world were included in the survey, ranging from large global banks to small regional institutions. A star rating was applied as part of the benchmarking of banks, with five stars for the best performers, and one star at the other extreme.

About one-third of the banks achieved a four-star quality ratings, while two-thirds were rated three-star or lower. The average star rating for banks in South Africa was 3.7.

Capitec chief executive Gerrie Fourie says: “Our belief is that banking should be simple, affordable and transparent and as we strive to be the best retail bank in the world, this recognition is a strong indication that we’re heading in the right direction.”

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