8,000 people join Capitec every day

Just a quick question....

According to their own stats, their client numbers are up from around 8,600,000 to 9,800,000, which means they got around 1,200,000 new clients the past year - Wow, well done!

But, according to them, they get around 6000-8000 new clients every day. This would mean the bank, at minimum, should get around 1,800,000 to 2,400,000 clients every year. Somewhere something did not go well the past year then or some numbers do not add up.

In addition, at around 9 million clients, they pretty much reached about almost 60% of the country's working population, so, I do not see a lot more business in new clients.... as is, they are currently right up there with the numbers of FNB and Absa.
 
JustPlainLucas said:
But, according to them, they get around 6000-8000 new clients every day. This would mean the bank, at minimum, should get around 1,800,000 to 2,400,000 clients every year. Somewhere something did not go well the past year then or some numbers do not add up.
Click to expand...
It's steadily increasing from 120 000 per month to 150-200 000 per month and now 8000 per day...

In addition, at around 9 million clients, they pretty much reached about almost 60% of the country's working population, so, I do not see a lot more business in new clients....
Click to expand...
As they move into the higher end they'll probably start eating into the client bases of competitors.
 
How many of those new "people" are loan accounts? and not people banking with Capitec?

Accounts are opened/created to administrate loans...
 
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