Capitec recently announced excellent financial results for the year ending February 2026 – and a big reason for this is its huge technology push.
Already South Africa’s largest bank and an industry-leader in mobile banking, Capitec increased its banking app clients by 19% year-on-year – from 12.9 million to 15.3 million.
Furthermore, the number of Apple Pay, Garmin Pay, Google Pay, and Samsung Pay users grew from 1 million to 1.8 million year-on-year, while client spending doubled through these platforms.
In total, digital transaction volumes (excluding value-added services) grew by 35%.
This highlights Capitec’s continued industry leadership in making world-class banking services accessible to South Africans anywhere and at any time.
At the same time, value-added services and Capitec Connect non-interest income increased by 38% from R4.4 billion to R6.1 billion.
“Our VAS suite continued to build daily client engagement by addressing routine payment and client needs in a simple and affordable manner,” said Group CEO Graham Lee.
“Cross-Border Transfers are now available in 26 countries, and Airtime and Electricity Advances were launched in August 2025 and February 2026, respectively.”
These advances support clients’ needs by providing access to essential services – and Capitec remains dedicated to enhancing its Fintech product offerings.
Technology improves security
Capitec’s growth can also be attributed to the trust its clients have in its offerings.
This is driven by a consistent and continued investment in security and fraud prevention technologies.
In 2026, some of these security technologies are powered by AI to ensure efficiency and scale.
In fact, over the course of the last financial year, Capitec blocked over 131,000 fraudulent beneficiaries, prevented over 394,000 scam payments, and saved its clients about R673 million in avoided losses.
Furthermore, advanced fraud models were implemented within Capitec’s insurance product suite, alongside the establishment of a dedicated insurance fraud investigation function.
“These capabilities are supported by specialized internal resources, targeted investigations into insurance syndicates and the selective use of external experts,” said Lee.
The reason for this aggressive investment into security is simple: Capitec believes that trust is a critical part of its business model.
“Trust remains a long-term strategic asset and a core driver of sustainable growth,” said Lee.
“It is earned through integrity, simplicity and dependable execution and remains a competitive advantage.”
Read the 2026 Capitec financial results
When a bank combines best-in-class digital innovation with robust security and anti-fraud measures, the result is Capitec’s excellent financial results statements for the year ending February 2026.
But it refuses to rest on its laurels. In 2027, Capitec plans to continue upon its positive growth trajectory.
“Our fundamentals have not changed in 25 years, and they will not change in the next 25. We will continue to protect the trust our clients place in us, make banking simpler and more affordable, and ensure that our growth delivers more value to the people we serve,” said Lee.
