Publications
Partners
Johannesburg - South African mass-market lender Capitec Bank Holdings Limited [JSE:CPI] reported a 20% increase in first-half earnings on Wednesday and said its chief executive would retire at the end of this year.
Capitec said its diluted headline earnings per share totalled 838 cents in the six months to end-August, from 691 cents a year earlier.
The bank, which was lifted by loan growth and an expanding customer base and created more than 8 000 new jobs in the local economy, also said chief executive Riaan Stassen will retire at the end of December.
Stassen, one of the bank's founders, will be replaced by Gerrie Fourie, now in charge of Capitec's sales and operations.
Stassen will stay on an as a non-executive director after his retirement, the bank said.
Shares of Capitec are up 11% this year, roughly in line with the All Share index.
Capitec said its diluted headline earnings per share totalled 838 cents in the six months to end-August, from 691 cents a year earlier.
The bank, which was lifted by loan growth and an expanding customer base and created more than 8 000 new jobs in the local economy, also said chief executive Riaan Stassen will retire at the end of December.
Stassen, one of the bank's founders, will be replaced by Gerrie Fourie, now in charge of Capitec's sales and operations.
Stassen will stay on an as a non-executive director after his retirement, the bank said.
Shares of Capitec are up 11% this year, roughly in line with the All Share index.
