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Mercantile Bank

Former South African business bank acquired by Capitec in 2019 and integrated into Capitec Bank as its business-banking operation.

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Mercantile Bank was a South African business bank that became the base of Capitec’s business-banking operation. [1][3]

History

Capitec acquired all shares and voting interests in Mercantile Bank Holdings on 7 November 2019 for R3.56 billion. [1]

The banking business later transferred into Capitec Bank and adopted the Capitec Business identity. [3][2]

Frequently asked questions

When did Capitec acquire Mercantile?

The acquisition completed on 7 November 2019. [1]

How much did Capitec pay?

Capitec reported a R3.56 billion cash purchase price. [1]

What happened to Mercantile Bank?

Its business transferred into Capitec Bank and now operates under the Capitec Business identity. [3][2]

Key milestones

  1. Capitec acquired 100% of the shares and voting interests in the holding company. [1]

  2. The former Mercantile business operated as a division of Capitec Bank. [3]

  3. The business used the Capitec Business name. [2]

Related articles

Related institutions

  • Capitec Bank — Capitec Bank is a South African retail bank established in 2001. Michiel le Roux was its founding chief executive, while Riaan Stassen led the bank through much of its early growth.
  • Capitec Limited — JSE and A2X-listed parent of Capitec Bank, formerly named Capitec Bank Holdings Limited.

Sources

  1. Capitec Bank Holdings, Integrated annual report 2020, 2020-02-29. Original source. Accessed 2026-10-29. ↩
  2. Capitec Bank Holdings, Annual financial results 2024, 2024-02-29. Original source. Accessed 2026-10-29. ↩
  3. Capitec Bank Holdings, Programme memorandum 2021, 2021-04-30. Original source. Accessed 2026-10-29. ↩