Capitec has published its results for the latest financial year.
Banking group Capitec has recorded a significant jump in headline earnings for the year ended February 2028.Income from operations grew 12% to R30.3 billion for the period, with net income up only marginally to R24 billion. The main contributor to the reduction in income came from credit impairments, which grew 80% to R6.3 billion.The group declared a final dividend of 2,800 cents, taking the total dividend for the year to 4,200 – also up 15% in line with the group’s growth.
“The economy was boosted by higher commodity prices which contributed to an improvement in the country’s fiscal position, but overshadowed the underlying factors that continued to impede the country’s ability to reach its potential in terms of sustainable growth for the long term. The impact of these events was evident on both South African consumers and Capitec’s business operations, where the former pushed towards increased lending to help weather the storms of the rising cost of living.
The group’s CET1 ratio of 34% and CAR ratio of 34% are well above the group’s board-approved and regulatory requirements.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa's Capitec bank reports 15% rise in profitSouth African lender Capitec on Tuesday reported a 15% rise in annual profit, on the upper end of its forecast range, helped by higher interest rates and loan, investment and insurance transactions.
Read more »
South Africans are pessimistic, but we need courage for trying timesThis week yet another opinion survey indicated that most South Africans disapprove of the direction in which the country is being steered.
Read more »
Countries where South Africans can ‘buy’ citizenshipCountries in Europe, the Caribbean, and the Middle East offer citizenship by investment programs.
Read more »
South Africans are suffering under ANC: Steenhuisen - SABC NewsDA Leader John Steenhuisen says people in South Africa will continue to suffer under the ANC government if political parties fail to join hands to stabilise the country.
Read more »
These are South Africa’s favourite banksAccording to an African Bank report, Capitec is the most popular bank for low-income earners, while middle-class South Africans prefer FNB.
Read more »