Capital Bank, the local commercial bank and a subsidiary of First Merchant Bank of Malawi has appointed Jaco Viljoen as the new Chief Executive Officer.
Viljoen takes over from Sriam Gade who has been at the bank’s helm since its establishment in Botswana five years ago. Gade has left Capital Bank to join the First Merchant Bank in Malawi. Viljoen who took over to lead the youthful bank in October 2013 said he is impressed with the bank’s standing.
“The one thing that impresses me most is the fact that the Bank has grown quickly despite being new, unknown and small,” Viljoen said.
Capital Bank achieved profitability within one year of operation that few start-up banks achieve and sustain profitability the way Capital Bank did. In the 2012 financial year, the Bank reported a profit after tax of P13, 3million within a competitive financial environment dominated by titans.
The Bank which services mainly the corporate sector has achieved sound growth during a period marked by economic uncertainty, and now looks forward to more vibrant growth.
Viljoen spent six years in Nigeria with Stanbic Bank where he was the Head of Personal Banking. Before that he was the Middle Market Segment Head for Barclays Africa in their Johannesburg Head Office. At the time of inception, Capital Bank had 500 customers who have increased tenfold to 5000 over the past five years. During the five-year period the Bank has increased its staff from the initial 18 to 118 staff members.
“I hope to lead a dedicated team who will understand customer needs and execute on the Bank’s vision to provide world class solutions,” said the new CEO.
Viljoen added that with his retail background he hopes to assist develop Capital Bank’s growth aspirations in the personal and business banking markets.
“My vision is to continue the growth of the Bank by delivering financial solutions that assist customers to grow and improve their businesses and lives. Our brand says: ‘Where YOU come first’ and the vision is to deliver it in a consistent way,” said Viljoen.