**Capitec Bank's Resilience and Growth**

At the start of 2018, Capitec Bank and its CEO Gerrie Fourie were enjoying a wave of success. In its 17 years, the South African bank had been named the best bank in the world by the Lafferty group two years in a row and was among the top 100 companies in the world according to The Sunday Times. Capitec's dedication to customer satisfaction and simplified banking placed it in a strong position.

However, in January of that year, Capitec faced a severe challenge. A short-selling firm called Viceroy released a report accusing the bank of "reckless lending" to profit from its own sales of Capitec shares. This caused Capitec's share value to plummet by 25%. Fortunately, a trust in Capitec shielded it as credible allies, including the South African Reserve Bank, denounced Viceroy's report. Gerrie Fourie considered this one of his most challenging experiences as CEO.

Capitec's swift recovery led to growth and innovation. By February 2019, it had a client base growth of 15%, totaling 11.4 million clients and 19% growth in earnings per share. Facing competition from digital banking entrants, Capitec focuses on combining strong digital platforms with robust branch infrastructure, particularly in rural areas.

The bank's slogan, 'Simplicity is the ultimate sophistication,' guides branch design and its single personal banking product, the Global One account. This approach removes client friction and is reflected in a defined company culture centered on meeting client needs.

Gerrie promotes this culture through a leadership philosophy called "understanding the why," emphasizing the importance of knowing the purpose behind actions. By fostering passion through understanding, Capitec continues to improve systems and enhance client experiences.