South Africa's youngest retail bank, Capitec Bank, has become the only South African brand - and one of only 27 brands globally - to be named a ‘Great Brand of Tomorrow' by Swiss-based financial services group Credit Suisse.
The group used 3000 analysts in 50 countries to identify the brands around the world that are most likely to significantly outperform their markets and competitors over the next three to five years.
Carl Fischer, Capitec Bank's Executive: Marketing and Corporate Affairs, says the bank is honoured to be included in this prestigious report.
"At Capitec Bank we have based our business model on innovation and doing things differently. We have applied a pioneering approach to traditional banking by using technology, which have enabled us to simplify banking, so this international recognition is a powerful endorsement of the success of our strategy so far.
Our significant client growth is testimony of the acceptance of our money management solution to the market."
He said that the bank was particularly pleased to be the only South African company included in the report.
Brands named in the first ever Credit Suisse Research Institute ‘Great Brands of Tomorrow' report are in the process of transforming from niche players into powerful brands that can proliferate across new markets and categories, affording the most investment potential to its clients.
Dozens of brand case studies from the last century were included in the report, among them world-renowned brands like Amazon, Apple, Mercedes-Benz and Facebook.
Walter Jacobs, Johannesburg-based Credit Suisse Standard Securities analyst, says, "In our view, Capitec Bank is one of the exciting ‘new' brands in South Africa.
The bank has made a concerted effort to migrate its image from that of a micro lender to that of a bank for the wider population. Its rapid branch expansion and simplified banking, coupled with a low-price fee structure, will certainly help Capitec Bank to attract clients from all income groups.
Through the bank's recent branding exercises like the new logo and TV advertising campaign, we also expect that its brand awareness will yield positive results for the bank and ultimately its shareholders."
With Credit Suisse's aim to identify and provide insights on global themes and trends, the Credit Suisse Research Institute plans to raise awareness among companies of the power to invest in brands for their shareholders.
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