LinkedIn . HILTON TARRANT: 5.4m active clients at the end of February, that’s 15% higher from a year ago, 700 000 added in the past 12 months, is that number of new clients accelerating every month? We’ve got to employ a sales force right through the country and where Rustenburg is now currently, where the strikes are taking place, the feedback is it’s definitely hurting the economy in totality and I think that will have a whole effect on the whole community in Rustenburg. View Louis Fourie’s profile on LinkedIn, the world’s largest professional community. The bank’s move toward granting “lower-risk, higher-value to better quality clients”, saw the number of loan requests approved decrease by 5%. } HILTON TARRANT: The cost to income ratio as an aside from that at 32%, that down from 38% a year ago, do you manage that actively? I think if you look at 23% and given the tough economic situations we’re quite happy with the 23%. GERRIE FOURIE: Ja, we’re still driving our client numbers, our “Ask Why” campaign has been very successful for us. "top": y, View Gerrie Fourie’s profile on LinkedIn, the world’s largest professional community. Louis has 4 jobs listed on their profile. return newTweetLink; South Africa’s Capitec Bank warned on Tuesday that it was cutting back on lending to cash-strapped consumers from lower income groups as it … Its operating costs increased by 18% to R5,4bn, largely due to an increase in its staff complement, the costs associated with expanding its branch network and investing in its IT capacity. Viceroy may attack another South African company, said Capitec chief executive Gerrie Fourie. } View Lucy Kapp’s profile on LinkedIn, the world’s largest professional community. var appendedTweetLink = document.getElementById("article-body-content").appendChild(newTweetLink); If you look at our provisions to arrears that percentage is 167%. So our provisioning is definitely and it’s gone up from about 105% if you look at about three, four years back and that’s in line with what we’re reading in the market. return range.text GERRIE FOURIE: What we’ve seen in the market and maybe one just needs to look at the market in totality, if you look at the six big players, the four traditional banks, African Bank and ourselves, we control about 70% of the market and then 20% of the market is controlled with players that have a branch network of about 50 plus and then the smaller players that’s in. Email. You can get more information about how we use cookies in our }, false); GERRIE FOURIE: We don’t manage it actively that it’s a figure that I look at every single month, it’s more the way we manage business generally, the way the business model has been set up that’s giving you that result. Provisions for bad debt decreased by 37% to R799m while the total provisions compared to gross loans and advances increased to 13,1%. Are you frustrated by that misunderstanding in the market? if (textParagraph) { return undefined; https://www.theceomagazine.com/.../finance-banking/gerrie-fourie-2 Engineering LLC | 943 followers on LinkedIn. The banking group revealed in its 2020 annual report that Fourie’s total remuneration was R72 million versus R94.9 million in 2019. Capitec, renowned for disrupting the South African banking industry, previously announced that it would acquire a 40% stake in Creamfinance for €21m. Gerrie has 1 job listed on their profile. }); We understand what the client wants, and so we are constantly finding innovative ways to enhance end-to-end experiences.” - Capitec Bank CEO, Gerrie Fourie. jQuery('html, body').animate({ GERRIE FOURIE: I think if you go and look at the last two years that whole perception and comparing ourselves with African Bank has changed, people understand that our business model is completely different to that of African Bank. The total remuneration for Gerrie Fourie, Capitec boss, has been reduced by R22 million to R72 million in 2020 financial year. event.preventDefault(); As at financial year-end, the average value of short-term loans granted over a period of less than six months was R1 905 while that of long-term loans was R26 605. HILTON TARRANT: Complete aside, the platinum strike currently underway in the industry, the big three producers are practically shut for all intents and purposes, have you picked up on that in the regions close to the platinum belt? GERRIE FOURIE: Ja, I think it must be one of the first service companies that’s doing side by side. So we will still drive the business to try and get to 25%. Gerrie Fourie is Chief Executive Officer at Capitec Bank Ltd. See Gerrie Fourie's compensation, career history, education, & memberships. Linkedin. View Gerrie Fourie’s profile on LinkedIn, the world's largest professional community. Fourie joins an elite list of former recipients including Lesetja Kganyago, Pravin Gordhan, Johan van Zyl, Michael Jordaan and Phuthuma Nhleko, amongst others. GERRIE FOURIE: We’ve made two serious cuts, that’s November 2012 and we’ve made another cut in June 2013, we continuously evaluate our credit risk profile and make changes where necessary. Fourie said much of the bank’s expenses relate to its rapid growth. oldTweetLink.parentNode.removeChild(oldTweetLink); Shares. if (text === "") HILTON TARRANT: A tough year for the lending business, your loans and advances in total up 8% to around R30bn with the value of new loans advanced down by almost a third to R18bn. Fourie’s guaranteed pay amounts to R12.8 million and R54 million in long-term incentives. So for us it’s part of our whole philosophy of making simplified banking and make certain that the client is in control. Telegram. Capitec Bank Holdings Ltd CEO, Gerrie Fourie, was the recipient of the 2019 Business Leader of the Year Award, as decided by the CEO’s of Sunday Times Top 100 Companies from previous years. Capitec adding 100,000 customers a month, continues push to grow banking clients. However, management has provided adequately for the higher risk associated with these rescheduled loans in our view. newTweetLink.target = "_blank"; On Monday night we had a credit meeting and we made certain changes that are going in this weekend and we’ll monitor on a continuous basis. }); Heat-related changes to the planet’s water cycle, including rainfall, snowfall, and snowmelt, are causing rivers to swell in some places and shrink in others. We’re fairly happy with the results currently but one needs to take into consideration one is uncertain always about what the economy is going to do, so we’ll evaluate it on a continuous basis and make management decisions based on that. View Gerrie Fourie’s profile on LinkedIn, the world’s largest professional community. Crescent M.E. y = (e.clientY + 5) + 'px'; } So it’s the way our systems work, our processes work, everything is centralised, everything is controlled from a central base and that actually makes the difference. HILTON TARRANT: Capitec Bank’s results for the 2014, that’s to the end of February, today show a 15% increase in headline earnings per share, with headline earnings overall up 27% to R2bn, the final dividend per share up 14%, with return on equity at 23%. The group attributed much of the 37% increase in the value of write-offs of R5,4bn to a “significant change in rescheduling policies in the current policies in the current year and the market deterioration of the prior year, which was provided for in 2016, that materialised in the current year”. HILTON TARRANT: Provisioning, Gerrie, are you happy with where you’ve increased provisions to? So it’s not the computer that’s saying no, he understands he can’t afford it, so it just makes it so much easier and it puts the client in control that he fully understands where we’re going. He was speaking at a … Capitec CEO, Gerrie Fourie addresses shareholders at the bank's AGM on Friday. var oldTweetLink = document.getElementById("tweetLink"); We operate from two facilities located in Industrial Areas of Sharjah, U.A.E. newTweetLink.id = "tweetLink"; else { We leave our competitors to what they believe they need to do, so our focus is focused on the needs of the client. Then there’s about 1m lending clients, 1.2m clients of which 800 000 is active and the rest is normal savings clients who use the account as a secondary account. GERRIE FOURIE: Well, our aim is 25%, given the rights issue that we had and the capital that we’ve raised, as well as the cutbacks on the credit side that’s why you’re seeing the 23%. }, 500); Then we don’t need to have a bricks and mortar [bank]in a different country,” said CEO Gerrie Fourie. See the complete profile on LinkedIn and discover Gerrie’s connections and jobs at similar companies. jQuery(appendedTweetLink).css({ }); Fourie, who described Creamfinance as a “young, dynamic company” similar to Capitec 15 years ago, said the deal provides Capitec with an opportunity to learn and understand how to operate in foreign markets. } View the profiles of professionals named "Gerrie" on LinkedIn. Telegram. var x = (e.clientX + 5) + 'px', textParagraph.addEventListener("mouseup", function (e) { View GERRIE FOURIE’S profile on LinkedIn, the world's largest professional community. Net lending and investment income increased by 14% to R11,9bn. “There has been some concern around the high amount of loans that were rescheduled in the previous financial year which helped Capitec to reduce write-offs given their very conservative write-off policy. Join our mailing list to receive top business news every weekday morning. HILTON TARRANT: And the split, Gerrie, of those 5.4m active clients? Engineering, Sharjah, is a one stop engineering services company, well positioned to provide complete repair, maintenance and engineering solutions. if (document.selection.createRange) { Capitec continues to make strides in South Africa, growing its client base by a record 1,3m to 8,6m active clients during the course of the financial year ended 28 February 2017. If you look at the last couple of months, the last six months, we’re still acquiring more than 100 000 clients per month, I think what is important is that we report the 5.4m as active clients, we’ve opened up over 7m accounts, so we measure clients who are actively using their account and we’re actually earning income for ourselves.