Capitec leads ranking of best banks

Johannesburg – Capitec Bank was named the top-ranked bank in the world in the inaugural Lafferty Bank Quality Ratings, an independent rating of 100 of the world’s largest quoted banks by a global banking advisory group.

Global banks such as HSBC, Deutsche Bank, UBS, Wells Fargo, Goldman Sachs and JPMorganChase joined local banks Nedbank, Standard Bank, Barclays Africa and FirstRand in the rating by Lafferty Group, a global banking advisory group with a footprint in 150 countries.

Read: Capitec forecasts jump in full-year profit

It said yesterday that the only other South African bank in the top 10 was Barclays Africa. Capitec chief executive Gerrie Fourie said the bank strove to be the world’s best retail bank and saw this as confirmation that it was on the right track.

Lafferty’s first 100 global bank ratings will appear in a new quarterly journal called Lafferty Bank Quality Ratings this month.

Lafferty Group chief executive Michael Lafferty said the rating was an independent global measure of bank quality.