Capitec has been named the top-ranked bank in the world in the inaugural Lafferty Bank Quality Ratings.
The Lafferty Group is a global banking advisory group with a footprint in 150 countries over the past 30 years. Major international banks such as HSBC, Deutsche Bank, Goldman Sachs and JPMorganChase, and South African banks Nedbank, Standard Bank, Barclays (Absa) and FirstRand, were included in their first independent star-rating of 100 of the world’s largest quoted banks. The only other South African bank in the top 10 is Barclays Africa.
The top 10 global banks according to the 2016 Lafferty Bank Ratings are:
Capitec – 5 stars
Barclays Africa – 4 stars
HDFC – 4 stars
Discover – 4 stars
Public Bank – 4 stars
OCBC – 4 stars
TSB – 4 stars
Swedbank – 4 stars
Handelsbanken – 4 stars
National Bank Kuwait – 4 stars
The star rating out of 5 is reached by using a combination of financial and non-financial disclosures in a bank’s latest annual report to determine the quality of the organisation and its business model, including strategy, culture, customer satisfaction, “living the brand promise” and other criteria.
Capitec CEO Gerrie Fourie said the bank was “inspired by this recognition”. “Our entire service platform is directed at helping clients make the best decision that suits them. We are always striving to live by the values of simplicity, transparency and control. These values shape our sustainable business model and enable our employees to provide our customers with quality service at the best value for money.”
Fourie said the bank strives to be the best retail bank in the world and sees this acknowledgement from Lafferty as confirmation that the bank is on the right track to reach this goal.
Founded in 1981, Lafferty Group is a leading provider of knowledge, thought leadership education and advisory services to the banking and financial services industries in more than 150 countries worldwide.
Lafferty Group founder and chief executive Michael Lafferty explained that the ratings were an independent global measure of bank quality and were intended for those who manage, direct, advise, regulate and use the services of banks worldwide. “Our aim is to promote excellence in banking – for customers, staff, communities, society at large and not least for bank shareholders and investors,” he said.
