Capitec Bank’s earnings have risen and seen dividends rise by 15%.
This as Capitec boasts a client base covering a third of South Africans.
Headline earnings were up 15% to R9.7 billion from R8.4 billion the year before.
Income from operations grew 12% to R30.3 billion for the period, with net income up only marginally (2%) to R24 billion. The main contributor to the reduction in income came from credit impairments, which grew 80% to R6.3 billion.
Headline earnings per share were at 8,420 cents, compared to 7,300 cents in 2022.
BusinessTech
To read the full article, read, “Big jump in profit for Capitec – which counts one-third of South Africans as customers“.
