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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
The mall's mix of 145 stores is led by anchor retailers Checkers, Pick n Pay, Woolworths, Edgars, Foschini, Sportsman's Warehouse and Incredible Connection. [2]The mall hosts all major banks including FNB, Nedbank, Standard Bank, Absa, Capitec Bank, as well as all key cellular stores like, MTN, Cell C, Telkom and Vodacom.
Mouton started his career aged 22 as an articled clerk at PwC. [4] He qualified as a chartered accountant in 1973. [2] In 1995, Mouton was fired as managing partner by stockbrokers Senekal, Mouton & Kitshoff, a firm he co-founded. He later founded PSG Group. [5] [6]
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.
TymeBank is a South African digital bank aimed at the lower income market. [1] [2] Headquartered in Rosebank, Johannesburg, TymeBank does not have any physical bank branches and relies on an Android banking App, and Internet Banking site and a partnership with two retail chains, Pick n Pay and Boxer, to host a national network of self-service kiosks that facilitate the account opening process.
The FirstRand group's history traces back to the 1970s as an investment bank.The group as currently was established on 1 April 1998, through a merger of the financial services interests of Anglo American Corporation of South Africa Limited (now Anglo American plc) and RMB Holdings (RMBH) in order to achieve the objective of a unified financial services grouping.
In 2021, the South African Financial Sector Conduct Authority (FSCA) has fined Viceroy R50 million for damaging remarks that the short-selling firm made about South Africa's Capitec Bank. [6] In October 2021, it issued a damning report against Adler Real Estate for inflated valuations and undisclosed related party deals. [7]