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Capitec flags more than 500% surge in half-year earnings

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First-half bank earnings are expected to be somewhere between R3.154bn and R3.28bn

Capitec, which has transformed itself from a microlender to SA’s biggest bank by customer numbers over the past two decades, has advised shareholders that they can expect a huge earnings increase when it publishes interim results at the end of September.

The Stellenbosch-based lender said in a trading statement on Monday that a reasonable degree of certainty exists that group headline earnings per share , a measure of profitability that excludes one-off items, would be between 3,428c and 3,541c for the six-months to end-August 2021. That would represent an increase of 510%-530% over the 562c per share reported in its corresponding first-half period the previous year...

 

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