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Capitec says half-year earnings to rise 292%

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Sverige Nyheter Nyheter

SA’s biggest bank by customer numbers says half-year earnings to surge, but cautions on third wave

Capitec, SA’s biggest bank by number of customers, has advised shareholders in a trading update that its earnings in the six-months to end-August 2021 are expected to surge by 292% as its operations bounced back strongly from a difficult 2020 that was heavily affected by the Covid-19 pandemic.

The lender said half-year earnings will be more than R3.3bn, representing an increase of 292% compared with the R841m earned in the corresponding period the previous year, according to the trading update on Friday. Headline earnings per share will be more than 3,372c, an increase of at least 500%, compared with the 562c per share reported in the previous half-year period ended August 31 2020. Heps is a widely used profit measure in SA that strips out one-off items...

 

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