Capitec founder Michiel le Roux is steering the bank toward further branch and ATM expansion in 2026, defying an industry wide retreat from physical banking infrastructure.
The retail bank says it expects a net increase in both branches and branded ATMs next year, pushing against an industry trend that has seen South Africas largest lenders close hundreds of locations and remove thousands of machines. Executives argue that despite rapid growth in digital banking, physical access remains central to Capitecs low cost, high volume model.
South African Reserve Bank data shows that mobile and internet banking transactions have grown at double digit rates since the pandemic, while cash withdrawals have largely stagnated or declined in value. Many banks have responded by accelerating branch closures to cut costs. Capitec has taken a different path, adding about 3,800 ATMs since 2019 and steadily growing its branch network, a strategy matched only in part by First National Bank.
