Capitec profits jump 19% as bank lures more clients | Fin24
  • Credit Rating

    'I think Moody's will be happy' - President Ramaphosa says plan to deal with Eskom's debt is imminent.

  • 'No Basis in Fact'

    The PIC commission has slammed Iqbal Survé’s claims about Minister Pravin Gordhan.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


Capitec profits jump 19% as bank lures more clients

Sep 27 2016 09:31
Renee Bonorchis

Capitec has launched a mobile banking application. (Duncan Alfreds, Fin24)

Company Data


Last traded 1341
Change -6
% Change 0
Cumulative volume 92502
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

How the cheapest bank in SA stacks up against the rest

How the cheapest bank in SA stacks up against the rest

IN-DEPTH: Capitec CEO opens up on African Bank, legal issues

MMM: Capitec will unlock accounts if clients prove legit activity

EXCLUSIVE: Capitec has closed 2 000 MMM bank accounts

Capitec readies for legal battle over reckless lending charges

How Capitec overcame high barriers to entry in SA


Johannesburg - Capitec Bank Holdings [JSE:CPI], provider of unsecured loans and low-cost accounts, said fiscal first-half profit rose 19% after attracting more clients and opening new branches.

Net income in the six months through August climbed to R1.75bn, from R1.47bn a year earlier, the lender, based in Stellenbosch near Cape Town, said in a statement on Tuesday.

Earnings per share excluding one-time items also increased 19% to R15.17, while the company increased its dividend 20% to R4.50 per share. It added 31 new outlets and almost 650 000 customers over the period.

“The slowdown in South Africa’s economic growth will continue to place pressure on consumers,” Capitec said in the statement.

“We will maintain our conservative approach to credit in the current conditions.”

Read Fin24's top stories trending on Twitter:

capitec  |  earnings reports  |  banks


Company Snapshot


Struggling power utility Eskom will take centre stage at this year's mini budget

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote