Publications
Partners
Cape Town - Capitec [JSE:CPI] boss Riaan Stassen made a pre-tax profit of R80m from exercising share options and share appreciation rights during financial 2013, Business Report reported on Monday.
According to the bank's annual report the chief executive received a remuneration package worth R10.8m, compared with R10.5m the previous year.
The profit was from options and rights granted in 2006, 2008 and 2009 when Capitec's share was trading at R30 to R35, the bank's report stated. The R80m comprises R36.2m profit on share appreciation rights and R43.6m profit from exercising share options.
When the options and appreciation rights were exercised in April last year, the Capitec share was trading at about R216, according to Business Report.
On Monday, the shares were changing hands at R200.51, 1.71% down on the previous trading session.
Capitec chairperson Michiel le Roux said in the report that in the last twelve months Capitec's earnings increased by 47% to R1.584m.
He added that individual clients performed 2.7 million transactions on their Capitec Bank accounts on the last day of the bank's financial year, which was February 28 2013.
"This was the busiest day of our year and is an increase of 80% on the busiest day of the previous year," he said.
Le Roux said the bank's long-term success "depends on the support of ordinary people who trust us to look after their money".
He said the number of prime clients who use the bank to receive their salary increased by 45% to 1.8 million.
At end-March, Capitec, which makes high-interest loans to low-income consumers, reported that its diluted headline earnings per share jumped 47% in the year to end-February, helped by a surge in fees and higher income from loans as it continued to add market share in unsecured lending.
The bank's headline rose from R1.078bn to R1.584bn.
The bank declared a final dividend of 405 cents per ordinary share on March 25 2013‚ bringing the total dividends for the year to 574 cents per share.
According to the bank's annual report the chief executive received a remuneration package worth R10.8m, compared with R10.5m the previous year.
The profit was from options and rights granted in 2006, 2008 and 2009 when Capitec's share was trading at R30 to R35, the bank's report stated. The R80m comprises R36.2m profit on share appreciation rights and R43.6m profit from exercising share options.
When the options and appreciation rights were exercised in April last year, the Capitec share was trading at about R216, according to Business Report.
On Monday, the shares were changing hands at R200.51, 1.71% down on the previous trading session.
Capitec chairperson Michiel le Roux said in the report that in the last twelve months Capitec's earnings increased by 47% to R1.584m.
He added that individual clients performed 2.7 million transactions on their Capitec Bank accounts on the last day of the bank's financial year, which was February 28 2013.
"This was the busiest day of our year and is an increase of 80% on the busiest day of the previous year," he said.
Le Roux said the bank's long-term success "depends on the support of ordinary people who trust us to look after their money".
He said the number of prime clients who use the bank to receive their salary increased by 45% to 1.8 million.
At end-March, Capitec, which makes high-interest loans to low-income consumers, reported that its diluted headline earnings per share jumped 47% in the year to end-February, helped by a surge in fees and higher income from loans as it continued to add market share in unsecured lending.
The bank's headline rose from R1.078bn to R1.584bn.
The bank declared a final dividend of 405 cents per ordinary share on March 25 2013‚ bringing the total dividends for the year to 574 cents per share.
